Trump announced a 100% tariff on all foreign-made films

Source Cryptopolitan

Donald Trump on Monday said he will impose a 100% tariff on all foreign-made films and hit any country that does not make its furniture in the United States with what he called “substantial tariffs.”

The announcement came through two Truth Social posts and left key questions about the details of the plan unanswered.

Trump said California’s movie-making industry and North Carolina’s furniture sector had been taken over by other countries and that the new duties would bring them back.

Trump wrote, “Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby.’ Therefore, in order to solve this long time, never ending problem, I will be imposing a 100% Tariff on any and all movies that are made outside of the United States.”

This is not the first time Trump has threatened foreign films. He made an identical threat in May. Back then, the White House softened its tone, and no action followed. It is unclear what is different about this new announcement compared to the earlier one.

Trump raises furniture tariffs beyond previous limits

Trump also wrote Monday, “I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States.”

This created questions about whether he plans to go beyond his vow last week to impose 50% duties on kitchen and bathroom furnishings and 30% tariffs on upholstered furniture. Trump had said those product-specific tariffs would take effect starting Wednesday.

The proposals add more uncertainty to Trump’s tariff regime, which has already kept investors and businesses on edge for much of the year. The White House did not respond to requests for comment on further details.

Congressional Republicans have urged Trump to use tariffs on key imports, such as furniture, to support their home-state industries.

Cryptopolitan reported that Trump already moved last week to impose a 30% levy on upholstered furniture and a 50% import tax on kitchen cabinets and bathroom vanities starting on Wednesday.

Trump’s push to tax foreign-made films first surfaced in May. That idea caused shares in U.S. media companies, including Netflix, Warner Bros. Discovery Inc., and Walt Disney Co., to fall.

The idea also faced strong resistance from the entertainment industry. It is still unclear how such a tariff would work or how films would be valued for duty collection.

Many Hollywood studios shoot across several countries and perform post-production work in different locations, making it complicated to define what counts as a foreign-made movie.

Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin drops below $110K ahead of $22B options expiry; altcoins tumbleBitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Author  Mitrade
Sept 26, Fri
Bitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
placeholder
Tesla set to beat Q3 delivery estimates on robust U.S. and China demand, says RBCTesla (NASDAQ: TSLA) is on track to exceed market expectations for third-quarter deliveries, driven by stronger sales momentum in both the United States and China, according to RBC Capital Markets. The firm projects 456,000 vehicle deliveries for Q3, compared with consensus forecasts of 440,000 (Visible Alpha) and 448,000 (FactSet).
Author  Mitrade
Sept 26, Fri
Tesla (NASDAQ: TSLA) is on track to exceed market expectations for third-quarter deliveries, driven by stronger sales momentum in both the United States and China, according to RBC Capital Markets. The firm projects 456,000 vehicle deliveries for Q3, compared with consensus forecasts of 440,000 (Visible Alpha) and 448,000 (FactSet).
placeholder
Dollar Weakens and Stocks Stall as Gold Rises Ahead of Fed DecisionOn Wednesday, global markets saw the dollar weaken, shares dip slightly, and gold rise to new highs as investors prepared for the Federal Reserve’s anticipated interest rate cut later in the day.
Author  Mitrade
Sept 17, Wed
On Wednesday, global markets saw the dollar weaken, shares dip slightly, and gold rise to new highs as investors prepared for the Federal Reserve’s anticipated interest rate cut later in the day.
placeholder
Key Challenges Ahead for US-China TikTok Ownership DealA newly announced framework agreement between the United States and China aims to shift TikTok’s ownership to U.S. control, raising numerous questions and challenges.
Author  Mitrade
Sept 17, Wed
A newly announced framework agreement between the United States and China aims to shift TikTok’s ownership to U.S. control, raising numerous questions and challenges.
placeholder
Oil Prices Rise Following Attacks on Russian Energy Infrastructure Oil prices climbed further on Monday as markets reacted to Ukrainian drone strikes targeting Russian refinery infrastructure, raising concerns over potential disruptions to Russia’s crude and fuel exports.
Author  Mitrade
Sept 15, Mon
Oil prices climbed further on Monday as markets reacted to Ukrainian drone strikes targeting Russian refinery infrastructure, raising concerns over potential disruptions to Russia’s crude and fuel exports.
goTop
quote