(Reuters) -The United States will impose a 100% tariff on all movies made outside the country, U.S. President Donald Trump said in a post on Truth Social on Monday.
“Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby’,” he said on Monday.
Trump had threatened to impose such levies earlier in May but offered few details, leading to confusion among entertainment industry executives.
Shares of Netflix and Warner Bros Discovery were down 1.4% and 0.6%, respectively, in premarket trading.
(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)
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