American media stocks tumbled on Monday after President Donald Trump unveiled a 100% tariff on all movies produced outside the U.S., in his latest levies that could sharply raise costs for Hollywood studios and roil the global entertainment industry.
Trump’s announcement was light on details. It did not say whether the duties will target films on streaming platforms and those shown in theaters, nor did it specify if the tariffs will be calculated based on production costs or box office revenue.
Streaming pioneer Netflix could particularly be at risk, as it relies on its global production network to produce content for international audiences. Its shares slumped 4.9% in premarket trading, leading a slide in media stocks.
Source: https://finance.yahoo.com/news/us-media-stocks-fall-trump-114118107.html