President Donald Trump said on May 4 that he had authorized the US Trade Representative to handle the imposition of a 100% tax on films produced outside the US because the US film industry is "dying very quickly" as other countries offer incentives to attract filmmakers and film studios.
This is a coordinated effort by other countries and therefore a threat to national security, President Donald Trump shared on Truth Social.
Commerce Secretary Howard Lutnick posted on X: We are working on it.
Neither President Donald Trump nor Minister Lutnick have provided any details about the implementation. It is not yet clear whether this move is aimed at foreign companies or US film production companies abroad.
