Hollywood is bracing for impact as former U.S. President Donald Trump’s proposal to tax foreign film productions stirs fears of a global trade showdown. The plan, touted as a bid to boost American-made movies, could instead spark retaliatory measures that ‘decimate’ Hollywood’s dominance in global box offices, experts warn.
📉 Stocks of major U.S. media giants like Netflix and Disney tumbled Monday as markets reacted to Trump’s Sunday ‘Truth Social’ post vowing tariffs on overseas-made films. His rallying cry: ‘WE WANT MOVIES MADE IN AMERICA, AGAIN!’ But analysts say the move risks triggering a lose-lose scenario. 🌍
Why This Could Backfire 🚨
The U.S. film industry relies heavily on global audiences—American movies account for 70-80% of box office revenue in many European and Canadian markets. Retaliatory tariffs or quotas could shrink Hollywood’s profits overseas, warns Scott Roxborough of The Hollywood Reporter. ‘The retaliation will kill our industry,’ echoes William Reinsch, a former Commerce Department official.
Global Pushback Begins 🌏✊
Australia and New Zealand have already vowed to defend their film sectors, while EU and Asian markets may limit U.S. movie imports or add fees. Professor Cui Fan notes: ‘If the U.S. slaps tariffs, other countries will hit back—hard.’ For an industry already struggling with post-pandemic recovery and streaming disruptions, experts say Trump’s plan risks turning blockbusters into box office busts.
As studios and streaming platforms hold their breath, one thing’s clear: In today’s connected world, trade wars aren’t just about goods—they’re about stories, too. 🍿✨
