Donald Trump softens plans for hefty tariffs on foreign films: “I’m not looking to hurt the industry”
US President Donald Trump has appeared to soften his approach to imposing hefty tariffs on foreign films – see what he had to say below.
Earlier this week, Trump shared a bombshell announcement when he declared that he will be authorising 100 per cent tariffs on films made outside of the United States.
He wrote on social media at the time: “The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated. This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!”
In comments made to the press following his declaration, Trump is now seemingly amending his approach to imposing the 100 per cent tariffs. Per CNBC, Trump said on Monday (May 5) at The White House: “I’m not looking to hurt the industry, I want to help the industry. So we’re going to meet with the industry. I want to make sure they’re happy with it because we’re all about jobs.”
Kush Desai, White House also told press that “no final decision on foreign film tariffs have been made. The Administration is exploring all options to deliver on President Trump’s directive to safeguard our country’s national and economic security while Making Hollywood Great Again.”
President Trump also took the time to take shots at Los Angeles governor Gavin Newsom, who he blames for the US film industry being “decimated by other countries taking them out, and also by incompetence”: “The governor [Gavin Newsom] is a grossly incompetent man, he’s just allowed it to be taken away from. Hollywood doesn’t do very much of that business, they have the nice sign, and everything’s good, but they don’t do very much.”
It was also revealed that Trump’s decision to impose 100 per cent tariffs on films shot outside of the US comes after he was pitched the idea by actor Jon Voight and his manager.
Voight and Steven Paul have reportedly submitted a “comprehensive plan” detailing what “changes need to be made to increase domestic film production”, though the plans have yet to be made public. It is currently unknown if Trump’s tariff plan only applies to foreign films, or if it will include US productions that are partially filmed overseas.
“By creating the right environment through smart incentives, updated policies, and much-needed support, we can ensure that American production companies thrive, more jobs stay here at home, and Hollywood once again leads the world in creativity and innovation,” Voight said in a statement on Monday.
The President’s film industry shake-up comes amid a chaotic era for the US, where Trump’s tariff plans have had a significant impact on the entertainment industry. He signed an executive order to impose tariffs on imports from a number of countries back in February, but due to backlash, delayed the majority of them.
Tariffs have also caused live music stocks to crash and inflicted “damage” on the instrument market, while radio giants got rocked, with iHeartMedia stocks falling more than 13 per cent, Cumulus Media dropping over 10 percent, followed closely by SiriusXM.
Pre-orders for the Nintendo Switch 2 were also delayed due to the tariffs, and US video game trade group Entertainment Software Association (ESA) warned the financial plan will have “a real and detrimental impact” on the games industry.
The post Donald Trump softens plans for hefty tariffs on foreign films: “I’m not looking to hurt the industry” appeared first on NME.
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