US President Donald Trump has now announced to impose tariff on foreign films as well. He has imposed 100 percent tariff on foreign films.
Announcing this on his Truth social platform, Trump wrote, "The film industry in America is on verge of ending. Other countries are giving every kind of incentive to drive our filmmakers and studios away from America."
He said that this is an organized effort by other countries and hence it is a 'threat to national security'.
Trump said that he is authorizing the Department of Commerce and the US Trade Representative to start the process of imposing 100 percent tariff on foreign films.
He wrote, "We want films made in America again."
Aim of the new tariff is to level the playing field
Trump stressed the need to return to domestic film production and said - We want films to be made in America again. The aim of the new tariff is to level the playing field and encourage studios to continue their operations on American soil.
Since beginning his second term in January, Trump has imposed tariffs on countries around the world.
He says the tariffs will boost American manufacturers and preserve jobs.
But his decision has thrown the global economy into turmoil.
Prakash Kumar Pandey