Trump announces 100% tariffs on movies made overseas, surprising studios

President Trump surprised studio execs by announcing a 100% tariff on overseas-produced films to boost U.S.-based movie production, despite their lack of notice and uncertainty about how the tariffs would apply. Studios, which have long shifted productions abroad due to tax incentives and lower costs, expressed dismay over the move, with Los Angeles facing significant economic losses from the decline in film-related jobs. The new tariffs follow a series of trade restrictions Trump has imposed globally, sparking global market reactions, while also raising concerns among Hollywood execs about increased production costs and potential revenue shortfalls for theaters.