Trump imposes 100% tariff on foreign images in the USA
Sunday 100% Movie Rate Produced outside the United States and imported into the country.
“The American film industry is dying very fast. Other countries are providing all kinds of incentives to attract our filmmakers and studios from the United States,” Trump wrote in his publication. “Therefore, I am giving power to the Department of Commerce and the US Commerce to start the process of establishing 100% tariff on all images built on foreign lands that are reached in our country. We need movies in America again!”
It is not clear how such a rate is imposed. Movies are not intellectual property and objects, so they represent a kind of service that is not currently subject to tariffs.
However, the USTR said that some services may be subject to non -tariffs such as regulations and tax incentives. It can undermine American film production.
Most foreign cities have provided big tax deductions to cinema and television studios to record films and series outside Hollywood. This has led to a large number of productions to transfer their activities to places like Toronto and Dublin.
In response, Governor of California Gavin Newsome proposed a huge tax credit to bring back the product to Hollywood.
Trump wrote that “Hollywood and many other US areas are destroyed.” “This is a joint effort from other countries and therefore a threat to national security. Rather than all, message and advertising!”
Although the Hollywood is away from the destruction, cinema tickets have declined in the United States, as the number of big movies from the pandemic has fallen – and consumers have changed their habits to watch movies on streaming platforms.
Before falling to $ 2 billion in 2020, the US box office reached just $ 12 billion in 2018, when most theaters were closed Covid.
Although the theaters recovered, the number of release in 2019 has not exceeded $ 9 billion since then.
Streaming networks are mostly owned by major Hollywood studios, but it took years to make profit – except for Netflix. Disney+ has just recorded its first profits, as well as Max, which shares the property CNN.
Many other streaming services have not yet benefited.
But imposing tariffs or other commercial barriers on products made abroad may not facilitate the business of Hollywood studios.
Many American films and programs are shot in places outside the United States. In addition to tax incentives, most foreign employees need fewer salaries, while some are financially practical production.
Trump has not criticized non -tariffs imposed by other countries to the United States, but so far American revenge on traditional goods on goods.
Trump imposes a 10% universal rate on most of the goods entering the US And has been implemented – and then postponed – more significant “interactions” tariffs about dozens of other countries.
He also imposed 25% tariffs on certain items from steel, aluminum, cars, auto parts and Canada and Mexico. And 145% on imports in Canada imposed a massive rate.
But these rates do not apply to any services. Rates on Film Production – if approved – may be the first.
The professor said there was a structural problem in the global economy
