Summary
President Donald Trump announced plans to impose a 100 percent import tax on foreign-made movies and furniture. He believes this will address problems he says have harmed the U.S. film and furniture industries. Details about how these tariffs would work and their impacts remain unclear.
Key Facts
- President Trump wants a 100 percent tax on movies made outside the U.S.
- He claims these industries have been taken from the U.S., like "stealing candy from a baby."
- Trump criticized California's governor for the state's struggles in the movie industry.
- It's unclear how tariffs would apply to movies that can be digitally transmitted.
- Many films are international collaborations, complicating the idea of imports.
- Trump previously mentioned similar tariffs in May, calling the situation a national security threat.
- Analysts worry tariffs could increase costs for consumers.
- Trump also proposed significant tariffs on foreign-made furniture to support North Carolina's industry.
