The White House clarified on Monday that “definitive decisions about Foreign films”, Although the Trump administration He is working to agree on a framework that complies with the directives of the US President.
“Although definitive decisions have not been made on tariffs on foreign films, the administration is exploring all the options to comply with the directive of President Trump to safeguard the national and economic security of our country, while making Hollywood Great again, “White House spokesman told the press Kush Desai.
The US president announced on Sunday the imposition of a 100% tariff over all films produced abroad, with the aim of revitalizing the Hollywood industry, which in his opinion is “dying rapidly.”
“Our film industry has been decimated by the elimination of other countries and also by incompetence”Trump insisted on Monday in a press wheel in which he blamed the governor of California, the Democrat Gavin Newsom, to allow other nations to take away the leadership to Hollywood.
Trump also communicated his intention to meet with industry representatives as part of his efforts to recover Hollywood’s appeal when filming films and avoid the migration of large producers.
“Before we did 100%, now we do very little. It is shocking and it is not a good situation. So we will meet with the industry. I want to make sure they are happy, because we care about employment. It is very important. It is a large industry, but now it is very abandoned,” said the Republican president.
On the other hand, the actions of the main film and platform studies experienced a great fall in the NYSE After Trump’s announcement about the possible implementation of a tariff on cinematographic productions made outside the US.
As reported CNBCthis proposal, disseminated through the social network Truth Social, generated an immediate reaction in the financial markets, affecting key companies in the sector.
In operations prior to the opening of Wall StreetNetflix recorded a loss of up to 4%, while Disney fell 3 percent. For its part, Warner Bros. Discovery receded 0.8%, Paramount Global decreased 1.01% and Comcast, owner of Universal Pictures, dropped 0.12 percent.
Although the losses were moderated throughout the morning, the initial impact evidenced market sensitivity to the possibility of implementing this tariff measure.
The American film industry dependence on international markets It is exposed with the uncertainty caused by the announcement, affecting both the production and distribution processes. This situation could also modify the production strategy of large companies of entertainmentthat in recent years they have chosen to diversify their locations in search of economic incentives and lower operational costs.
According to the analysis, the scope of the possible policy goes beyond studies and platforms streamingby raising doubts about commercial relations between USA and the countries that have served as usual scenarios for international filming.
(With EFE information)
