
Trump's 100% tariffs on foreign films: Which recent blockbusters could have been affected — From 'Avatar' to 'Wicked'
A clear picture of how the tariffs would be implemented was missing from the president's declaration. On Monday, a day after Trump made the announcement, the White House said that the government is yet to make a final decision regarding tariffs on films produced overseas.It, however, added that all possible options are being explored to safeguard the "national and economic security" of the US, according to news agency Reuters. Notably, while announcing his plans, Trump had billed the growing trend of foreign film production as a "national security threat".
Also Read : When and why did Alcatraz Prison close — and what makes Trump's plan to reopen it so challenging?
On Tuesday, Forbes compiled a list of some of this decade's highest grossers that, though, were American-made but filmed in foreign countries. These films could have potentially faced a big impact if they were covered by the tariffs planned by Trump. Here are some of the films from the list:
1. Avatar: The Way of Water, which was released in 2022, was filmed in New Zealand. It grossed $2.3 billion worldwide. The film was produced by James Cameron's Lightstorm Entertainment, which is based in the US.
2. Barbie, which hit the theatres in 2023, earned a global gross revenue of $1.4 billion. It was filmed in the UK. The movie's producers include US firms Mattel and LuckyChap Entertainment.
3. Deadpool & Wolverine was shot in the UK. The film grossed $1.3 billion globally. The producers of the blockbuster are Marvel Studios, 21 Laps Entertainment, and Maximum Effort -- all US companies, Forbes noted.
4. Jurassic World Dominion, which was released in 2022, managed to earn gross revenues totaling $1 billion. The film was shot in locations spread throughout Canada, Malta, and the UK. All three production companies involved in the making of the movie are US-based.
5. Doctor Strange in the Multiverse of Madness, another Marvel movie, was shot in the UK. Its global gross revenue stood at $955.8 million.
Also Read : Why is Trent Alexander-Arnold leaving Liverpool and planning to join Real Madrid?
What has the White House said about Trump's planned movie tariffs?
The White House on Monday said that any conclusive decision on President Donald Trump's planned levies on films produced outside the US has not been finalised yet.
How much tariff does Donald Trump plan to impose on movies filmed outside the US?
He plans to impose a 100 per cent tariff on such films.
Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Indian Express
25 minutes ago
- Indian Express
I want Elon to thrive: Trump denies cutting Musk's subsidies, weeks after ‘DOGE' jibe
Weeks after suggesting the Department of Government Efficiency (DOGE) turned against billionaire Elon Musk's companies, US President Donald Trump on Thursday dismissed rumours that he intends to cut federal subsidies to the tech mogul's companies. 'Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large scale subsidies he receives from the US Government. This is not so!' Trump posted on Truth Social. He stated that his priority is for American businesses to flourish: 'I want Elon, and all businesses within our country, to THRIVE, in fact, THRIVE like never before!' Trump added that the country's economic momentum is strong and should be preserved. 'The better they do, the better the USA does, and that's good for all of us. We are setting records every day, and I want to keep it that way!' This comes after Trump suggestion that DOGE, the cost-cutting agency Musk helped set up, could be used to hurt the billionaire's companies – as the former allies continue their public dispute over Trump's budget plans. 'Elon may get more subsidy than any human being in history, by far,' he wrote on social media. 'Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!' The tech billionaire wrote in reply: 'I am literally saying CUT IT ALL. Now.' Musk has time and again criticised Trump's so-called 'big, beautiful bill', suggesting that it undermines the work he undertook to cut government spending. A row between Trump and Musk first blew up last month, and then again earlier this month, with the pair trading barbs publicly before Musk backtracked on some of his attacks. Musk also launched a new political party, weeks after dramatically falling out, which he announced on his social media platform X that he had set up the America Party, billing it as a challenge to the Republican and Democratic two-party system. Trump had hit out at former close ally, saying: 'I think it's ridiculous to start a third party. It's always been a two-party system and I think starting a third party just adds to the confusion.'


Hindustan Times
25 minutes ago
- Hindustan Times
India, Britain seal trade deal to bring down tariffs, barriers; keep dairy out
NEW DELHI: India and Britain on Thursday signed a trade deal that is expected to boost two-way commerce by $35 billion in the long run, cut tariffs on goods ranging from textiles to whisky and enhance market access, as Prime Minister Narendra Modi and his UK counterpart Keir Starmer unveiled the Vision 2035 strategy to drive collaboration in defence, technology, climate and migration. Britain's Prime Minister Keir Starmer and Prime Minister Narendra Modi shake hands after Britain's secretary of state for business and trade, Jonathan Reynolds and India's commerce minister Piyush Goyal, signed a free trade agreement at Chequers near Aylesbury, England on July 24 (via REUTERS) The two sides also unveiled plans to negotiate a Double Contribution Convention (DCC) to give a fillip to the services sector, especially finance and technology, by exempting employers of Indian workers from paying social security contributions in the UK for three years, and a Defence Industrial Roadmap for closer cooperation on military hardware. The DCC will come into force alongside the trade deal. India and Britain finalised the Comprehensive Economic and Trade Agreement in May after more than three years of negotiations, and the pact was signed by commerce minister Piyush Goyal and his UK counterpart Jonathan Reynolds during Modi's visit to Britain. The two sides gave a push to the negotiations amid economic turmoil unleashed by US President Donald Trump's tariff policies to overcome long-standing differences on issues such as levies on British alcohol and automobiles, and access to India's markets. Modi described the deal as 'not just an economic partnership, but a plan for shared prosperity' that will benefit India's youth, farmers, fishermen and MSME sector. Starmer said the agreement is the 'biggest and most economically significant trade deal' concluded by the UK since leaving the European Union (EU) in 2020 and also 'one of the most comprehensive deals' by India. Speaking at a media interaction with Starmer, Modi said: 'On the one hand, Indian textiles, footwear, gems and jewellery, seafood and engineering goods will get better market access in the UK. New opportunities will be created in the UK market for India's agricultural produce and processed food industry.' He added, 'On the other hand, products made in the UK, such as medical devices and aerospace parts, will be available to the people and industry of India at accessible and affordable rates.' The DCC, Modi said, will give new energy to the services sectors of both sides by boosting the ease of doing business. 'Along with this, the UK economy will get Indian skilled talent,' he said. He added that the deal between two democratic countries and major economies will strengthen global stability and prosperity. Starmer said that, apart from benefiting whisky distillers in Scotland and the services sector in London, Manchester, and Leeds, the deal will lower prices on Indian goods, including clothes, shoes, and food. 'It will add about £4.8 billion to the UK economy every year and £2.2 billion to wages and hundreds of millions of pounds to regions and nations up and down the UK,' he added. The India-UK Vision 2035, aimed at renewing the bilateral comprehensive strategic partnership, will serve as a roadmap for a reliable partnership in technology, defence, climate, education, and people-to-people connect, Modi said. The two sides will also work to strengthen their Technology Security Initiative, launched a year ago to drive cooperation in telecom, critical minerals, IA, semiconductors, quantum computing and biotech. The trade deal provides near-complete tariff elimination for 99% of Indian exports, unlocking opportunities for labour-intensive sectors, processed food items and other high-tariff segments where India has a competitive edge. For instance, duties on 99.7% of tariff lines for processed food items will fall from as high as 70% to zero, and for animal products, from the range of 20% to zero for 99.3% of tariff lines. Other sectors where duties will be cut to zero are marine products (20%), transport and automobiles (18%) leather and footwear (16%), electrical machinery (14%), and aluminium (10%). The elimination of tariffs on textiles and clothing, from the current level of 12%, will enhance India's competitiveness against players such as Bangladesh and Vietnam and boost exports of value-added garments. Exporters of seafood, dairy and meat products are expected to benefit from the cut in levies on animal and marine products. In addition to cutting tariffs, the deal will streamline trade protocols and ensure protection for India's agricultural sector, which is the cornerstone of rural livelihoods and economic security, officials said. The benefits for Indian farmers in UK markets will match or exceed those enjoyed by exporters from Germany, the Netherlands and other EU members, and agricultural exports are forecast to rise by 20% in the next three years, they said. The FTA excludes India's most sensitive agricultural segments, with no tariff concessions on dairy products, apples, oats and edible oils. These exclusions, the officials said, reflect India's calibrated trade strategy that prioritises food security, domestic price stability and protection of vulnerable farmers. The deal's sanitary and phytosanitary (SPS) measures will help Indian exporters meet British standards and reduce rejections, the officials said. In the services sector, Indian service providers are expected to benefit from opportunities in the UK, especially in management consultancy, computer-related services and education services. The deal also eases mobility for Indian professionals, including contractual service suppliers working on projects in the UK, yoga instructors and chefs. The inclusion of a first-of-its-kind trade and gender chapter in the trade deal aims to empower Indian women and ensure gender inclusion, with targeted support for women-led enterprises and workers. India-UK trade in goods and services was worth $57.8 billion (£42.6 billion) in January-December 2024, representing an 8.3% increase from 2023. India's imports from the UK totalled £17.1 billion, while its exports to the UK were worth £25.5 billion. Total bilateral trade in goods was worth £17.8 billion in 2024, while total bilateral trade in services amounted to £24.8 billion. India was Britain's 11th largest trading partner in this period, accounting for 2.4% of the UK's total trade. India's key exports to Britain include textiles, apparel and clothing accessories, pharmaceutical products, telecom and sound equipment, refined oil, electrical and electronic equipment, machinery appliances, iron and steel, and gems and jewellery. India's main imports from the UK are non-ferrous metals, metal ores and scrap, industrial machinery, transport equipment, beverages and tobacco, electrical machinery and appliances, professional and scientific instruments, and chemicals. Sunil Bharti Mittal, chairman of Bharti Enterprises and co-chair of the India-UK CEO Forum, who is heading a delegation of 16 Indian business leaders accompanying the Prime Minister, said Indian industry welcomed the trade deal with 'great optimism'. The business delegation was organised by the Confederation of Indian Industry (CII). 'This agreement establishes a modern, forward-looking partnership that will stimulate innovation, ease market access and foster investment. Businesses in India as well as the UK stand to gain tremendously, as it lays the groundwork for scaling up bilateral cooperation across key growth sectors,' Mittal said. The Federation of Indian Chambers of Commerce and Industry (FICCI) also welcomed the trade deal, with its president, Harsha Vardhan Agarwal, stating that it marked a key milestone in India's evolving trade architecture. 'It complements the objectives of Atmanirbhar Bharat by empowering domestic industries to scale globally, engage competitively, and leverage value chains more effectively,' he said. Tufan Erginbilgic, the CEO of Rolls-Royce Plc, hailed the free trade agreement as a landmark in bilateral cooperation. 'We welcome the new UK-India roadmap for closer collaboration on defence, technology and innovation. Rolls-Royce is growing its aerospace capabilities in India, and we look forward to working with Indian partners to co-develop power and propulsion technologies for India and the world,' he said.


Economic Times
25 minutes ago
- Economic Times
ECB holds rates with US tariffs decision on horizon
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The European Central Bank held interest rates steady Thursday as policymakers waited to see whether the eurozone would be hit by higher US tariffs threatened by President Donald Trump The pause brought to an end a streak of consecutive cuts stretching back to September 2024 that has seen the ECB slash its benchmark deposit rate to two swift reduction in borrowing costs for businesses and households in the 20 members of the single-currency bloc has come as inflation has fallen back from the double-digit peaks seen at the end of prices in the eurozone rose at a pace of two percent in June, exactly in line with the ECB's target for moderate inflation read and encouraging signs of growth meant the ECB was in a "good place", ECB President Christine Lagarde said at a press conference following the rates outlook however remained "exceptionally uncertain, especially because of trade disputes", the central bank warned.A further escalation in trade tensions could deliver a fresh blow to the eurozone economy , with Trump having set a deadline of August 1 to impose a basic tariff rate of 30 percent on the European negotiations between Washington and Brussels to find a compromise have meanwhile progressed, raising hopes of a deal.- Trade negotiations -Lagarde declined to speculate on the outcome of the negotiations but said that a resolution and reduction in trade-related uncertainty would be "welcomed by any economic actors including ourselves".Higher tariffs -- wherever their final resting place -- could "bring inflation down further than expected" if trade tensions fuelled the euro's strength against the dollar, she said.A stronger euro would make imports cheaper and further suppress inflation. The ECB is already predicting the indicator to dip to 1.6 percent in 2026 before returning to target in euro has surged almost 14 percent against the dollar since the start of the year, although the single currency has fallen from recent said the ECB was monitoring the impact of euro exchange rates on inflation but added the bank was not targeting a particular exchange could also be driven lower if a higher rate of tariffs reduced demand for European exports and prompted "countries with overcapacity to re-route exports to the euro area", she said.- 'On hold' -By contrast, a breakdown in global trade and supply chains could fuel a new surge in prices. And a resolution to trade tensions could "lift sentiment and spur activity", Lagarde said, potentially taking the pressure off the face of this dilemma, ECB policymakers kept rates steady, in effect bringing an end to the process of steadily lowering interest rates that started over a year ago."You could argue that we are on hold. We are in this wait-and-watch situation," Lagarde said."Any monetary policy decision will for the future be decided on the basis of data," she said, adding that the "jury is out as to how quickly the uncertainty will be cleared".Exchange rate fluctuations and the still-pending conclusion to EU-US talks were two reasons for the ECB to "to stay put today and keep the powder dry", ING bank analyst Carsten Brzeski inflation was still around target there was "very little reason for (the ECB) to leave its 'good place'", Brzeski said, echoing could however still choose to give an extra boost to the eurozone with another cut down the line -- especially if trade tensions looked to be having an impact on the inflation showed signs of weakening and the economic data looked shaky, the central bank could plump for "one final rate cut at the September meeting", Brzeski said.