Trump Plans to Tax Movies. Here's How It Will Impact Hollywood
While more movies and TV shows are being produced abroad, the US entertainment industry still exports three times as much as it imports.
Donald Trump
Photographer: Chris Kleponis/CNP/Bloomberg
President Donald Trump announced a plan to increase film and TV production in the US: He’s going to impose a 100% tariff on movies produced overseas.
So far, the plan announced on Truth Social is short on details. For example, it’s not clear if he plans to tax movies that are shot overseas and finished in the US. That covers a lot of current Hollywood output. It’s also not clear if he plans to tax TV shows made overseas for international audiences but available in the US (aka much of Netflix’s catalog).