Now it's Hollywood's turn for a Trump scorching
If Donald Trump's new tariff thought bubble aimed at Making Hollywood Great Again is as damaging as most expect, then the US movie industry can stand in line with others – like the auto sector – that have found that resuscitation, Trump-style, has more of a palliative feel.
Trump has declared on social media that 'The Movie Industry in America is DYING a very fast death', but there were no signs Hollywood was looking for Dr Trump to apply his 100 per cent tariff defibrillator.
It was nothing short of a blockbuster announcement attended by Trump's typical lack of execution detail to render the entertainment industry in a state of suspense, drama, dread.
What Trump has dubbed his response to a national security threat looked more like high-visibility distraction and a chest-thumping offering of red meat to his base.
Like the big US car makers that import some vehicles or components from lower-cost countries, the film industry often uses countries with lower labour costs or with production tax incentives for filming or other parts of the production process.
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Among them, Australia (which has been referred to as Hollywood Down Under), New Zealand and the UK would be direct marks. Just under half of the money Australia spends on screen production is directed to foreign products.
Only this week, two of America's largest auto makers, GM and Ford, have outlined the financial hit of up to a combined $US10 billion ($15.5 billion) in 2025 due to Trump's tariffs. Other companies in sectors like aviation and logistics have pulled profit forecasts, professing a tariff-induced lack of visibility on future damage to their earnings prospects.
Even the maker of the popular Barbie doll withdrew its profit guidance
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