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Trump’s Tariffs Could Have Far-Reaching Effects on the U.S. Music Business
Trump's tariffs will affect the U.S. music business, which will face higher vinyl prices, less tourism and possible retaliation by other countries.
The Trump administration’s tariff policy aims to return manufacturing to the United States is already having ripple effects throughout for the U.S. music industry and could have further consequences in the future. Back in February, CIMA president/CEO Andrew Cash became concerned that spending Canadian tax dollars on a trade mission to the U.S. might not be a good choice given the tone of political discourse. Created mainly as a deterrent, the ACI provides tools for the EU to deal with coercion, including tariffs on goods but, importantly, also trade restrictions on services, intellectual property and foreign direct investment.
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