The US will implement a 100% tariff on all foreign-made movies, President Donald Trump announced on Truth Social this Monday.
“Other countries have taken our movie industry, just like taking ‘candy from a baby’,” he stated.
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Trump had hinted at these tariffs in May but provided limited details, causing uncertainty among entertainment industry leaders.
Netflix and Warner Bros Discovery shares dropped 1.4% and 0.6%, respectively, in premarket trading.
