The actions of the cinema and media companies on Wall Street experienced strong falls at the beginning of Monday’s session, after the president of the United States, Donald Trump, announced the imposition of 100% tariffs to all films produced abroad that enter the country.
In this way, Netflix titles fell up to 4.2%, those of Walt Disney were left to 3.1%, 4.06%those of Roku and Fox those of Fox up to 3.94%, while the Global Paramount shares came down to 2.36%, 5.38%of those of those of Warner Bros Discovery and up to 8% of Lionsgate.
However, once the first hour of negotiation was exceeded, they managed to significantly reduce their losses up to 1.87% in the case of Netflix and at 0.23% those of Disney, as well as 1.49% those of Roku and 1.26% those of Fox, while Paramount Gloral Lionsgate gave some more than 6%.
The president of the United States based his decision to establish these tariffs, authorizing the corresponding authorities to initiate the process of application of them immediately. According to Trump, the American film industry is in danger due to the incentives offered by other countries to attract filmmakers and studies outside the United States. «The American film industry is dying rapidly. Other countries offer all kinds of incentives to remove our United States filmmakers and studies. Hollywood and many other US areas are being devastated,» he said.
In his statements, Trump expressed concern about the situation of the film industry in the country, describing it as «dying industry» and highlighting the devastation that is causing in Hollywood and other areas of the United States. He also noted that the presence of foreign productions represents a threat to national security and is considered as propaganda.
The president emphasized the importance of promoting national cinematographic production, expressing his desire to watch more films made in the United States. These statements were shared through their social media platform, Truth Social.