Trump declares that all movies produced outside of the US would be subject to a 100% tariff in order to impose a significant tax on imported furniture.
As part of his drive to restore manufacturing and entertainment jobs to the United States, President Donald Trump intensified his tariff rhetoric on Monday, September 29, promising broad trade restrictions on the furniture and film sectors.
Trump accused China and other countries of hurting local firms, specifically mentioning North Carolina’s once-thriving furniture industry in one post on Truth Social.
“I will be imposing significant tariffs on any country that does not manufacture its furniture in the United States in an effort to restore greatness to North Carolina, which has lost its furniture business entirely to China and other nations.” Details will be provided soon!
Industry watchers are unsure of the extent of the measures because Trump did not provide further information on how or when the tariffs would be implemented.
Trump claimed that foreign rivals had challenged America’s hegemony in filmmaking just minutes before.
“Like snatching ‘candy from a newborn,” foreign nations have taken our filmmaking industry from the United States of America. California has been especially heavily impacted because of its inept and feeble governor! Therefore, I will be enacting a 100% tariff on all films produced outside of the United States in order to address this persistent issue.
In May, Trump originally proposed the notion, calling the US film industry “dying a very fast death.” He claimed at the time that he had given the US Trade Representative and the Department of Commerce permission to start the process of enacting a 100% tariff.
Increased risks from tariffs
Trump declared last Thursday that he will put 25% to 100% tariffs on heavy trucks, kitchen cabinets, upholstered furniture, and branded pharmaceutical products. He stated that unless the businesses established US-based production facilities, the duties would go into force on Wednesday, October 1, and that patented drugs would be subject to 100% tariffs.
Trump’s renewed emphasis on tariffs is in keeping with his campaign’s long-standing goal of relocating employment to the United States, but many industries are still unsure about the extent, timing, and implementation of the suggested policies.
(with agency inputs)