Trump’s 100% tariff on films will have little impact on Hong Kong industry: experts
Instead, it is Hollywood and the US movie industry that will suffer, as they depend on other countries to keep their production costs down, expert says
US President Donald Trump has announced a 100 per cent tariff on any films produced outside America wanting to enter its market, with experts saying the move will have little impact on the industry in Hong Kong.
Trump posted on his social media platforms at around 7am Hong Kong time that non-US produced films constituted a “national security threat” and that the tariff was intended to bring film production back to the United States.
“Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated. This is a concerted effort by other Nations and, therefore, a National Security threat,” he wrote on Truth Social and X.
According to Trump, the US film industry was “dying a very fast death”, and initiatives to bring film production elsewhere than the country were “propaganda”.
“WE WANT MOVIES MADE IN AMERICA, AGAIN!” his post read.
“I am authorising the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100 per cent Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.”