Sounds like it’s even stupider than that - he wants to tariff movies sold in the US by US companies which were filmed overseas. So it not only doesn’t go through a port, the finished movie doesn’t cross borders at all.
Hollywood accounting is very experienced at making money disappear when taxes are due, I can’t imagine tariffs would pose any problem at all. Anything that crosses the border will be worth $0 and make a loss, they’ll have the paperwork to prove it.
I might be completely wrong about what Trump meant here. Which is fair, really - he likely doesn’t know what he meant either.
Donald Trump on Sunday announced on his Truth Social platform a 100% tariff on all movies “produced in Foreign Lands”, saying the US film industry was dying a “very fast death” due to the incentives that other countries were offering to draw American film-makers.
I do not know how it works, but he wants American movies that filmed outside US to get tariffs.
Demonstrating once again that he has no idea how tariffs work.
Tariffs are taxes on the importation of physical goods and they’re charged at the port of entry.
Movies aren’t physical goods and they don’t go through a port of entry.
There’s literally no way to put tariffs on foreign movies but Trump is too stupid to understand that.
The closest thing they could do is charge tariffs on DVDs, and that would have zero impact on anything.
Sounds like it’s even stupider than that - he wants to tariff movies sold in the US by US companies which were filmed overseas. So it not only doesn’t go through a port, the finished movie doesn’t cross borders at all.
Hollywood accounting is very experienced at making money disappear when taxes are due, I can’t imagine tariffs would pose any problem at all. Anything that crosses the border will be worth $0 and make a loss, they’ll have the paperwork to prove it.
I might be completely wrong about what Trump meant here. Which is fair, really - he likely doesn’t know what he meant either.
I do not know how it works, but he wants American movies that filmed outside US to get tariffs.