Shares in US media and entertainment companies fell on Monday after President
In a post on Truth Social, the American leader said he was directing the Commerce Department and his trade representative to “immediately begin the process of instituting” the levy on foreign movies. “WE WANT MOVIES MADE IN AMERICA, AGAIN!” Trump continued.
The president also positioned foreign productions as a national security threat, saying other nations were using films for messaging and propaganda.
Watch: Why Trump’s tariff on foreign-made films may be hard to impose. Source: Bloomberg