Technologies

Trump Calls for 100% Tariff on Foreign Movies, With Hollywood Seeking Answers

It’s not just hard goods like cars and smartphones. Tariffs could become a factor in the costs of making and watching movies.

Movies are a new focal point for the Trump administration’s campaign to impose tariffs across a wide range of industries, from tech to textiles and beyond.

In a Sunday night social media post, President Donald Trump said the US movie industry “is DYING a very fast death.” He wrote that he’s authorizing a 100% tariff “on any and all Movies coming into our Country that are produced in Foreign Lands.”

Secretary of Commerce Howard Lutnick quoted the president and responded, “We’re on it.”

Trump’s latest tariff call to action raised a host of questions without much direction on where the answers might lie. What criteria define how a movie is produced overseas? Would the tariffs affect only future releases or would they also apply to films already in the market, like the the wildly successful A Minecraft Movie, which was mostly shot in New Zealand? US film studios often shoot overseas with the help of incentives from countries. The tariffs almost certainly would affect foreign-made films such as the Oscar-winning animated film Flow from Latvia.

From the Los Angeles set of a Toyota commercial, director and Tulsa King actor James Quattrochi told CNET that his phone began to blow up last night on the Trump news. “Everyone’s calling me and I go, ‘I’m not the White House, why are you asking me?'”

As pointed out by The Hollywood Reporter and others, it’s unclear how streaming services such as Netflix and Hulu would be affected, such as the potential impact on subscriber fees and the kinds of content that those services offer. And what about TV shows? Among the top hits on Netflix alone are Squid Game, from South Korea, and The Crown, from the UK.

Trump contended in his social media post that foreign tax incentives for movie production amount to “a concerted effort by other Nations and, therefore, a National Security threat,” which allows him to levy tariffs under the International Economic Emergency Powers Act. That claim would be open to legal challenge.

It’s also unclear if film tariffs would be considered legal in light of Section 1702 of the US Code, which explicitly prohibits a president from regulating imports and exports of films, publications and other media.

Filmmakers weigh in

The entertainment industry is grappling with what the tariff initiative, if implemented, could mean. In one estimate from The Wrap, an expert suggested it could cost Netflix $3 billion a year and cut 20% from its earnings.

Meanwhile, some independent filmmakers and workers noted that their industries have struggled to keep film productions in the US and that tariffs might spur reconsideration of film towns such as Los Angeles, Austin and Atlanta.

Quattrochi, who is in three film-related unions, said it’s been difficult to push for incentives in California and to keep costs down.

“It’s just so expensive. And we’re fighting. … The UK, Ireland, Canada and other countries are really getting a lot of work,” he said. If tariffs against foreign film production do happen, he said, it could be enough to keep work in places like Hollywood. “People are complaining that there’s no work because everything’s leaving the country.”

Talk of a foreign movie tariff, he said, could raise awareness of the film industry’s struggle to keep it local. “Hopefully this open’s everybody’s eyes that the entertainment capital of the world, Los Angeles, is no longer. We need to do something.”

Filmmaker David Wortham Brooks owns a production company that Disney bought in 2019 and sold back to him in 2023. He said he’s still weighing the implications the potential tariffs will have on foreign films and licensing.

Brooks has worked on films in Morocco, Bangladesh and England, but has been based in Los Angeles primarily. As far as keeping shooting in the US, he says he favors Trump’s idea.

“Anything that could bring production back to LA, I’m all for it,” Brooks said. “The proposition of bringing it back to the states, particularly back to Hollywood, is very appealing to me. It has been slow; everything that can be done to mobilize the workforce, it is welcome in my book.”

Technologies

Bank of America Warns Bond Market Echoes 2022 Conditions

Bank of America warns that current bond market conditions mirror those of 2022, when rising yields and rate hikes triggered a significant equity correction. The firm advises investors to consider hedging strategies as real yields break out of trading ranges.

The bond market is giving 2022 vibes right now, and not in a positive way, according to Bank of America. Yields skyrocketed to multiyear highs this week, as oil prices stay elevated and new U.S. data suggests the Federal Reserve may need to hike rates even more to quell inflation. The benchmark 10-year Treasury note yield reached levels not seen since 2007 above 5.2%. The 30-year bond yield also spiked to its highest levels since 2004. Equities, for their part, weathered the move higher well. The S & P 500 is up around 1% week to date. The Nasdaq Composite jumped nearly 2%. But for BofA technical strategist Paul Ciana, this may be the calm before the storm. US10Y YTD bar US 10-year yield in 2026 “We see parallels with 2022, when the US 10-year real yield broke out of a trading range and rose from approximately -1% to +1.5%. Around that period, the SPX, Euro and Bitcoin formed important peaks and declined, while equity, rates and FX volatility accelerated higher,” Ciana wrote. “The comparison does not require an identical outcome, but we do think it argues for greater caution.” Stocks entered a bear market in 2022, as the Fed quickly raised rates to fend off a massive surge in inflation. The S & P 500 fell more than 19% that year, marking its worst annual performance since 2008 — when it tumbled 38%. Ciana noted investors can hedge by scooping up put options on the SPY ETF , which tracks the S & P 500. “Investors seeking protection may consider one- to three-month SPY 750 puts or 750/730 put spreads,” he said. “The lower strike corresponds to the July lows.” “However, the rise in real yields is quite stretched on weekly RSIs. If yields retrace lower and positive SPX seasonals follow through, hedges may not perform,” he said, referring the relative strength index, a popular indicator that helps assess whether an investment may be overbought or oversold.

Technologies

Anthropic warns investors of AI’s ‘existential risk to humanity’ in IPO prospectus, reports say

Anthropic’s IPO filing dedicates 80 pages to the risks of AI, nearly double the 48 pages it spends discussing its business plans, according to Reuters.

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Technologies

U.S., Iran hold separate mediator talks as Mideast oil exports hit war-time high

Iranian and U.S. officials reportedly met separately with mediators Monday to push for a ceasefire, as Middle Eastern crude exports rebounded to war-time high.

Iranian and U.S. officials reportedly met separately with mediators Monday to push for a ceasefire.

Middle Eastern crude exports rebounded this month to around their highest level since the war began in February.

An outright export ban by Washington on diesel would keep roughly 1.2 million barrels a day at home, and risks overwhelming Gulf Coast storage, according to Kpler.

The building of the destroyed Shajareh Tayebeh primary school is pictured surrounded by rubble in Minab in Iran’s Hormozgan province on August 10, 2026. Six months on, a team of AFP journalists obtained rare access to the school which has remained largely in ruins, its collapsed walls and twisted steel now surrounded by portraits of the children killed as Iranian flags flutter above the rubble. Iran says the attack on the school involved two separate US Tomahawk missiles but neither the United States nor Israel has officially claimed responsibility for the strike. (Photo by ATTA KENARE / AFP via Getty Images) /

Atta Kenare | Afp | Getty Images

U.S. and Iranian officials have reportedly held separate indirect talks with mediators on Monday, reviving efforts to end seven months of war as Tehran presses for a response to a revised ceasefire framework and Middle East crude exports climb to their highest level since the conflict began.

Iranian Foreign Minister Abbas Araghchi met Qatari mediators in New York, where he remained after the United Nations General Assembly, and reportedly said he expects Washington’s reply by Tuesday. “We talked about ideas and how to find solutions to fulfil Iran’s conditions,” Araghchi said, adding that he planned to return to Tehran once a response arrives. “Whenever the Qataris have a response, they know how to get it to us.”

Iran’s proposal, first presented on the sidelines of last week’s General Assembly, calls for a four- to five-day U.S. timeline to release frozen Iranian funds, lift sanctions on Iranian oil and end the naval blockade of Iranian ports, with nuclear talks beginning within seven days. Tehran has tied any reopening of the Strait of Hormuz to those steps.

President Donald Trump had on Sunday called the plan “unacceptable” and rejected it, telling reporters Iran wants a swift deal because of the economic pressure it is under. Speaking at the White House Monday, Trump said U.S. officials had spoken separately with mediators but gave no further details, adding: “We’re going to win. It’s going to go pretty quickly.”

The diplomatic push comes as physical supply data shows the war’s toll on the oil market easing. Middle Eastern crude exports rebounded this month to around their highest level since the war began in February, Kpler data showed. “Middle East crude exports at just under 80% of pre-conflict levels,” the tracking firm said in a note on Monday.

The Strait of Hormuz itself remains far from normal. Kpler’s real-time tracking showed total clearance through the strait at 10,591 kilobarrels a day on Saturday, against a pre-war baseline of 17,133.