A Trump film tariff would send Canadian screen industry into 'chaos,' say local producers
But the Toronto-shot film is now an example of the kind of international production that would be hit hardest by Trump's proposed full-scale tariff on foreign-made movies.
In a social media post Sunday, Trump said he's authorized trade officials to impose a "100 per cent tariff" on all films produced outside of the United States, claiming the American movie industry is dying a "very fast death" due to the incentives other countries are offering to lure filmmakers.
Many Hollywood projects are shot in Canada, where foreign-funded movies and TV shows make up about half of all output.
The Canadian Media Producers Association pegs the value of foreign productions last year at $4.73 billion, creating more than 90,000 jobs.
Bekerman is among several insiders who say Trump's proposed tariff on foreign-made films could send Canada's screen industry into "chaos," though most believe the plan is unlikely to ever be implemented.
"The worst version of this could change the shape of the industry and my livelihood," says the Toronto-based producer and founder of Scythia Films.
Still, Bekerman notes Trump has retracted several other tariff threats in recent months.
"I think he's proving himself to be someone who you can't necessarily rely on what he says to be followed through on. With that level of unpredictability, the only really rational course is to hold steady, solidify all your partnerships and make sure that you're making good product that people want."
Meanwhile, Noah Segal, the co-president of Canadian film distributor Elevation Pictures, says he's both 'concerned and dumbfounded' by Trump's announcement, adding he can't see any practical way the tariff could be applied.
"It's getting harder and harder to make films and shows, and make them make sense so that you can release it and make money," says Segal, adding that the local industry has faced several hurdles lately, from the pandemic to the Hollywood strikes.
"So I would suspect if something like this (tariff) comes along, there'd be a lessening of production and there would be a slowdown, which is never good for anybody."
Segal says Trump's tariff threat underlines the importance of Bill C-11, which requires foreign streaming platforms to allocate five per cent of their Canadian revenues to a fund dedicated to supporting Canadian content. Later this month, the CRTC will hold a public hearing to help define what "Canadian content" means.
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Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. 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Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. 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