U.S. President Donald Trump has announced plans to impose tariffs on films and furniture produced outside the United States.
On Monday, in a post on his social media platform Truth Social, Trump stated, “Our movie making business has been stolen from the United States of America, by other Countries, just like stealing candy from a baby.” He added, “In order to solve this long-time, never-ending problem, I will be imposing a 100% Tariff on any and all movies that are made outside of the United States.”
Trump had previously announced a similar 100% tariff on foreign-produced films in May. However, that earlier announcement did not clarify whether the tariff would apply to films on streaming services as well as those in theaters, or whether it would be based on production costs or box office revenue.
Trump also addressed the furniture industry, stating, “In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States.”
Last week, Trump announced that starting Wednesday, he would impose taxes of 100% on pharmaceuticals, 50% on kitchen cabinets and bathroom sinks, 30% on indoor decorative furniture, and 25% on large trucks. He cited national security and other reasons as the reason for these tariffs.
