Axios announced the loss of Hollywood's main revenue due to Trump's duties

Hollywood may lose its main revenue due to the duties of US President Donald Trump. This was reported on the Axios portal on May 6.

As explained on the portal, exports of American films are three times higher than imports, and although it is not difficult to impose duties on physical goods crossing the border, as the United States has been doing this for centuries, the situation with intellectual property such as films is much more complicated.

"Therefore, I authorize the Department of Commerce and the United States Trade Representative to immediately begin the process of imposing a 100% duty on any films entering our country that are produced abroad," Trump said on the Truth Social network.

Foreign films occupy only a small part of the distribution in the United States — mostly American films are shown in cinemas. However, in large cities, subtitled tapes attract the attention of the intellectual elite, and the duties proposed by Trump will primarily hit this audience and cinemas aimed at it, she added."Газета.Ru ".

Trade Warrior: How new US duties will affect the global economy

Donald Trump announced the introduction of fees for all products supplied to the United States.

On May 5, the American leader clarified that "the film industry in America is dying a very fast death," while other countries, on the contrary, are increasing measures to support domestic films. According to the politician, this is the result of "coordinated actions" by foreign states, which poses a threat to the national security of the United States.

On April 2, the US president announced large-scale measures: base tariffs of 10% are being introduced for all products supplied to the United States. For Europe, this figure has been raised to 20%. In his speech, the president called April 2 the day when Americans will become rich again.

The countries of the European Union (EU) will soon present a united front against Trump's duties, probably approving the first set of targeted countermeasures against US imports worth up to $28 billion. On April 7, the European Commission (EC) will propose to EU members a list of American goods subject to additional measures.