Donald Trump lamented Hollywood’s state, calling it a “very quick death,” by announcing a rough 100 % tax on all foreign-made movies on Sunday.
Trump claimed in a Truth Social post that there has been a” conscious effort” from other nations to lure artists and producers away from the United States by providing “incentives” to Hollywood and the broader film production industry in the U.S.
The American film industry is dying quite quickly, according to the statement. Different nations are providing all kinds of incentives to entice our artists and producers to leave the United States. Hollywood and a number of other U.S.A. cities are in danger of losing their lives. This is a coordinated effort by different countries, making it a threat to national security. It includes propaganda and messaging in addition to anything else. Trump asserted.
The president made it clear that the tax would apply to “any and all films coming into our nation that are produced in unusual countries.”
” WE WANT MOVIES AGAIN TO BE MADE IN AMERICA”! Trump’s speech was over.
The new tax announcement comes less than a fortnight after his” Liberation Day” rollout of severe, so-called reciprocal taxes on the majority of foreign nations. As world officials work out trade agreements with Trump and his presidency, those have been passed for 90 days.
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According to latest reports, movie businesses are shifting locations. Disney, for instance, moved Moana production from its well-known active video series to Canada, where it just opened a Vancouver manufacturing facility. In consequence, many of the project’s work and funds went to Canada rather than the US.
Additionally, statistics show that U.S. performances have decreased substantially. The number of U.S. productions decreased by 40 % in the second quarter of 2024 compared to the same period in 2022. Only a 20 % decline was observed overall over that time period.
