By Ben Fritz
President Trump’s planned 100% tariff on films produced overseas weighed on entertainment company stocks early Monday, though details remain scant on how the administration intends to implement the policy.
Shares in Netflix, Disney, Warner Bros. Discovery and Paramount were down 2% or more in morning trading.
Trump said in a Truth Social post Sunday night that he had authorized the new tariff on films produced overseas. He called it a response to tax incentives that have lured a substantial number of Hollywood productions outside the U.S.
Films made by American studios are often shot in the United Kingdom and Canada, including this year’s highest-grossing film, “A Minecraft Movie.”
“The Movie Industry in America is DYING a very fast death,” the president wrote. He called international filmmaking incentives “a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!”
Hollywood studio executives scrambled Sunday night to determine what the announcement would mean for their business. Executives said they were given no prior warning about the tariff plan and no information about how it might work.
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