Trump 100% Film Fee: Former US President Donald Trump has once again shaken the entire film industry, taking a shocking decision. Trump has announced that 100 percent tariff (tax) will be imposed on all films made outside the United States. The decision is likely to have a direct impact on the American film industry including Hollywood.
‘Film industry is a threat to national security’ – Trump alleged
Trump revealed his situation by posting on his official social media platform ‘Truth Social’. They have written,
“The film industry in the US is rapidly ending. Other countries are giving financial incentives to take their film studios and producers away from the US. Hollywood and other industries are being destroyed. This is a well -planned international trick, which has become a national security issue.”
Trump claims that American studios are suffering due to making films with cheap prices and concessions abroad. Therefore, he has taken this tough decision to encourage filmmaking in the US.
‘Made in America’ emphasis on American films
Under this new policy, the US Commerce and Trade Representative Department has been ordered to take immediate action and start the process of imposing 100 percent tax on foreign films. According to Trump,
“We want to make films again in America. So it is inevitable to tax other countries.”
It is believed that this decision is part of his long -term economic strategy ‘Make in America’.
Will Hollywood face financial challenges?
This decision will have the most impact on Hollywood. Today, many famous studios are shooting their films in Canada, Australia, Britain, India and various European countries. The budget can be kept under control due to tax exemption, cheap labor and available places. If Trump’s decision is implemented, the cost of releasing films shot abroad in the United States will double. Therefore, the studios will have to reconsider foreign places.
Mixed reaction in film industry
There are mixed reactions to this decision in the film industry. Some people say that this decision is good for American manufacturers as it will encourage local production. However, many manufacturers, especially independent manufacturers and small studios are saying that this tax burden may cause financial difficulties.
A Hollywood studio representative said,
“Many times, the story needs to be shot abroad. This new policy can suppress creativity.”
Chances of increasing tension between America and traditional markets
100 percent tariff decision of Donald Trump is not only economically important, but also strategically important. Films are not only a medium of entertainment, but also an effective weapon of culture and global soft power. Therefore, this move of America will be a topic of discussion globally. Now it remains to be seen how the international film industry and friendly countries react to this decision. In addition, Trump’s economic policy is likely to become the centerpiece in the upcoming US elections.
