Media Stocks Fall As Trump Orders 100% Tariff on Foreign-Made Movies to Save "Dying" Hollywood
UPDATE 4-Trump orders 100% tariff on foreign-made movies to save 'dying' HollywoodTrump says authorizing agencies to start process of imposing tariff Commerce Secretary Lutnick posts on X: 'We're on it.'Trump says US movie industry dying a 'very fast death'Australia, New Zealand vow to support their film industriesAdds response from Australia and New Zealand paragraph 12By Andrea Shalal and Tim Reid. WASHINGTON, May 4 - U.S. President Donald Trump on Sunday announced a 100% tariff on movies produced outside the country, saying the American movie industry was dying a "very fast death" due to the incentives that other countries were offering to lure filmmakers."This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda," Trump said on Truth Social.Trump said he was authorizing the relevant government agencies, such as the Department of Commerce, to immediately begin the process of imposing a 100