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Media Stocks Hit After Trump’s Bombshell Plan To Tax Films Produced Outside U.S. – “Studios Carry A Significant Amount Of Risk”
Media and entertainment stocks from Disney to Netflix fell in early trading after President Donald Trump proposed tariffs on films produced outside the U.S.
The possible tariffs are meant as a hit to other countries – Foreign Lands as Trump calls them — that offer tax incentives to attract production just as Georgia and other states do in the U.S. Therefore, I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands. The president has been using the International Economic Emergency Powers Act to impose the levies on imports from global trading partners, a move that has been challenged in court.
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