Many in Hollywood are wondering how the new administration’s policies will affect the industry – especially when it comes to trade deals and international trade tariffs that Trump has said he will impose.
ADVERTISEMENTThe election results have resulted in an outpouring of disappointment across the entertainment industry, and Hollywood producers have started to speculate about its future under a new Trump administration.
As creatives are expressing anger and fear after Trump’s re-election, many are wondering how the new administration’s policies will affect the industry – especially when it comes to trade deals and international trade tariffs that Trump has said he will impose.
These will create new challenges for US producers and could impact the exportation of US films and TV shows abroad. Additionally, countries affected by trade tariffs could reduce access for American entertainment content.
For instance, Trump’s promise to raise tariffs to 60 per cent on Chinese-made products could spark retaliatory measures from Beijing.
The Hollywood Reporter shared stances from Hollywood producers following this week’s election results, with one unnamed “indie industry vet” saying: “When I saw the results come in, and Trump had won, I just wanted to put my head down on my desk and weep, but in terms of the business, we’ll have to see how much will really change.”
Regarding international productions looking to shoot films in the US, Australian producer Jim Robison (Lunar Pictures) said: “When we come to America, it’s like coming to Europe where we have to deal with all of the different states to navigate rebates and support, and it’s frankly confusing as hell in the US.”
He added: “The most we can realistically hope for is that he just leaves the entertainment industry alone.”
The Motion Picture Association (MPA) – the major studios’ lobbying group – has issued a statement saying it looks forward to working on “a wide range of important issues for the film, TV, and streaming industry, which supports more than 2.7 million American jobs, boosts more than 240,000 businesses in cities and small towns across the country, and delivers over $242 billion in wages to our workforce each year.”
Additional sources • Hollywood Reporter
