President Trump's raising tariffs on everything from prescription drugs to home furnishings starting Wednesday. Pharmaceutical products will face *** 100% import tax unless that company has broken ground on *** project to make their products in the US The president previously said he plans to raise that rate eventually to 250%. Other new tariffs taking effect Wednesday include 50% on kitchen and bathroom cabinets and vanities, 30% on upholstered furniture, and 2. 5% on commercial big rig trucks. The president has long said companies will absorb these prices, but economists and businesses say they'll pass along at least some of the increased costs to their customers. New inflation data out this morning shows year to year core inflation stayed the same last month. Prices are up 3% compared to this time *** year ago at the White House. I'm Rachel Herzheimer.
Trump announces 100% tariff on foreign-made movies
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Updated: 9:01 AM CDT Sep 29, 2025
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President Donald Trump said in a Truth Social post on Monday he will be imposing a 100% tariff “on any and all movies that are made outside of the United States.”Trump did not specify when or how the tariff could be enacted.If Trump follows through with his threat, it would mark the first time he’s essentially imposed a tariff on a service rather than a raw good.The president initially threatened a 100% tariff on foreign-produced movies in May, arguing that other countries offer tax incentives that have drawn filmmakers abroad. In his post on Monday, he singled out California, saying the state “has been particularly hard hit!”The state, meanwhile, has proposed and put in effect many tax incentives, as have other American cities.Hollywood was completely caught off guard when Trump first previewed the tariff in May. “On first blush, it’s shocking and would represent a virtually complete halt of production,” one industry insider told CNN at the time. “But in reality, he has no jurisdiction to do this and it’s too complex to enforce.”American actors and directors generally prefer to work close to home. But “the fact is, it’s cheaper for Hollywood studios to pay for everyone to get on planes, pay for hotels, because the cost of labor, lack of rebates and the ability to make things overseas is infinitely cheaper,” Jay Sures, vice chairman of United Talent Agency, told CNN in May.Share of Netflix opened down 1% Monday morning following Trump’s post, while other movie-related companies, including AMC and The Walt Disney Company, opened higher.
WASHINGTON — President Donald Trump said in a Truth Social post on Monday he will be imposing a 100% tariff “on any and all movies that are made outside of the United States.”
Trump did not specify when or how the tariff could be enacted.
If Trump follows through with his threat, it would mark the first time he’s essentially imposed a tariff on a service rather than a raw good.
The president initially threatened a 100% tariff on foreign-produced movies in May, arguing that other countries offer tax incentives that have drawn filmmakers abroad. In his post on Monday, he singled out California, saying the state “has been particularly hard hit!”
The state, meanwhile, has proposed and put in effect many tax incentives, as have other American cities.
Hollywood was completely caught off guard when Trump first previewed the tariff in May. “On first blush, it’s shocking and would represent a virtually complete halt of production,” one industry insider . “But in reality, he has no jurisdiction to do this and it’s too complex to enforce.”
American actors and directors generally prefer to work close to home. But “the fact is, it’s cheaper for Hollywood studios to pay for everyone to get on planes, pay for hotels, because the cost of labor, lack of rebates and the ability to make things overseas is infinitely cheaper,” Jay Sures, vice chairman of United Talent Agency, told CNN in May.
Share of Netflix opened down 1% Monday morning following Trump’s post, while other movie-related companies, including AMC and The Walt Disney Company, opened higher.
