The American President is contemplating enacting tariffs on films produced abroad, citing potential national security risks tied to the current situation. Foreign-produced films are the chief focus, with the President raising concerns about the incentives foreign countries provide to entice American filmmakers and studios. The President signaled his intention to convene a meeting with key industry figures to talk about the possible new tariffs later this week.
Expressing his aim not to harm but to aid the film landscape, he harbors concerns about the incentives offered by foreign countries, such as financial backing and other benefits which are significantly affecting the industry. Speaking from the Oval Office, the President stated that such foreign incentives have effectively crippled the once thriving American movie industry.
Taking his thoughts to social media, the President announced his directive to commence the process of imposing a 100% tariff on all films made outside of the United States. The enforcement of such a tariff is to be spearheaded by the Department of Commerce and the U.S. Trade Representative.
The industry’s ongoing struggles were underscored by noted actor Rob Lowe. He made a comparison indicating that the cost of taking a hundred American crew members to Ireland for filming is lesser than the expense incurred to conduct a shoot in their own backyard – the Fox lot.
However, the proposed approach of enforcing tariffs raised eyebrows among academics and industry insiders. Craig Shepherd, a seasoned film industry veteran and a respected professor at Boston University, voiced his doubts over the impact such tariffs might have.
Given the $15 billion surplus that the film industry has generated this year, Shepherd finds the President’s line of reasoning a tad perplexing. While admitting the pertinence of home tax incentives, he fails to resonate with the potency of introducing tariffs as a rectification measure.
Parallelly, the President’s administration is putting in concerted efforts to finalize new trade agreements with several countries. The aim is to ensure a drawdown of the escalating trade war backdrop, especially with China which currently has an inflated tariff of 145% applied to its goods.
In a public statement, the President made it known that his ultimate goal is equitable dealings with China. He noted that the imbalance in trade has been largely disadvantageous for the U.S for several years. Hence, considering some form of redressal might not be entirely unwarranted.
The coming week will see the President hosting a meeting with Canada’s newly appointed prime minister, Mark Carney, at the White House. The reason behind Carney’s visit is yet unclear to the President, but he speculates it could be related to negotiating a deal.
However, questions remain regarding the imposition of tariffs on international films due to the global scope of the overall service industry. Experts in the field are seeking clarity on the process by which such tariffs might be introduced and managed.
The post President Contemplates Tariffs on Foreign Films, Cites National Security appeared first on Real News Now.
About Author
