Overview

• Trump declared on Truth Social that any film produced outside the United States would face a 100% tariff, asserting the industry has been “stolen” and singling out California.
• No timeline, rules, or enforcement mechanism were provided, and trade lawyers note films are treated as services or intellectual property, complicating any tariff regime for co-productions and digital releases.
• If carried out, it would be an unprecedented levy on a service, with industry figures warning it could upend Hollywood’s global production and financing model.
• Entertainment stocks slipped after the post, with Netflix shares down roughly 1% to 1.5% in early trading according to market reports.
• The announcement aligns with a broader tariff push that includes new duties on branded pharmaceuticals, heavy trucks, kitchen cabinets, and upholstered furniture, a program already facing court scrutiny.