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Trump Tariffs Impact on Hollywood: Not Much ‘Direct Harm’ — but a Resulting Recession Would Be ‘One-Two Punch’ for the Entire Sector
Most media and entertainment companies aren't directly affected by Trump's new tariffs plan but could suffer from a resulting recession, experts say.
Trump’s “reciprocal” tariffs “won’t cause much direct harm” to media and entertainment companies, Morningstar senior equity analyst Matthew Dolgin wrote in an April 3 research note. The Consumer Technology Association, the trade group that says it represents companies supporting more than 18 million U.S. jobs, issued a blistering rebuke of Trump’s plan. “President Trump’s sweeping global and reciprocal tariffs are massive tax hikes on Americans that will drive inflation, kill jobs on Main Street, and may cause a recession for the U.S. economy,” CTA CEO and vice chair Gary Shapiro said in a statement.
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