Trump announces "film tariffs," How will they affect you?

President Trump announced a new addition to his list of "reciprocal" tariffs: so-called "film tariffs," which will have an immediate impact on your life.

Hollywood sign.

Typically, tariffs were implemented to bring jobs back from overseas in the wake of lower tax rates and friendly labor laws in emerging markets. However, the president brought in another, much less merited motive for his tariffs: revitalizing America's social dominance globally.

Trump has thus issued "movie tariffs," where the U.S. government would make it far more expensive for American movie producers to film videos overseas, without any incentives for shooting domestically like lower tax rates.

Like other goods targeted by his long list of tariffs, the cost to buy and rent movies and TV shows will increase, especially for in-person movies at theatres. As a result, the already devastated movie industry due to the advent of video streaming will suffer even more; we might see the shift to at-home streaming become far more accelerated with these tariffs being implemented.

As a film producer stated in reaction to this tariff, "Everyone loses."