Wild new Trump tariff to hit movie industry
The announcement was light on detail, other than that he has instructed the Department of Commerce and the United States Trade Representative to begin the process.
Mr Trump claimed that the effort was necessary to restore a 'dying' American movie industry that has been incentivised by foreign governments to offshore many of its productions.
The US president diagnosed the offshore productions as a 'national security threat' that is 'in addition to everything else, messaging and propaganda'.
'We want movies made in America again', he declared without any clarity on how such a tariff would work and how it would be applied.
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Australia has a series of tax offsets for foreign screen productions from both the federal and state governments, which has attracted many American projects.
The federal government offers a 30 per cent tax offset for productions that spend more than $15 million in the country. There are also offsets available for visual effects and post-production work.
Among the American productions currently in Australia is the movie Place to Be, starring Pamela Anderson and Ellen Burstyn, which is shooting in Sydney, and Runner, an action thriller with Owen Wilson and Alan Ritchson, is filming in Queensland.
Australia has also seen three Marvel movies shot on its shores as well as the DC film Aquaman and entries in the Planet of the Apes franchise. Recently, the Anaconda reboot with Paul Rudd and Jack Black was filmed in Queensland.
More to come.
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The Age
5 hours ago
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‘A threat was made': Trump repositions nuclear subs after online spat with ex-Russian leader
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