US President Donald Trump sent shockwaves through Hollywood with his announcement to impose a 100% tariff on all movies produced in Foreign Lands. In a bold tweet, he declared, "The Movie Industry in America is DYING a very fast death," setting off a firestorm of debate across the industry.
Industry experts and media outlets quickly warned that this move could skyrocket production costs and compromise the competitiveness of American studios. CBS News correspondent Carter Evans described the situation as a "five-alarm fire," noting that low-budget and independent filmmakers might face severe challenges, with creative scripts and budgets stretched to their limits.
Film and streaming executives were described by CNN Business as being "downright apoplectic." The announcement has not only stirred concerns within creative circles but also rattled the market, as shares of major entertainment companies like Netflix began to fall.
In a twist straight out of a blockbuster plot, Hollywood now braces for potential long-term impacts on global film production. Stay tuned as we continue to follow this developing drama and bring you updates with a touch of entertainment and insight! 🎬🔥
Reference(s):
'It makes no sense:' Industry experts blast Trump's film tariff plan
cgtn.com
