Movie tariffs proposal stokes confusion and the best Met Gala looks: Morning Rundown
Trump’s plan to tax foreign movies causes confusion. Baby bonus faces backlash. Diddy "nervous" during jury selection. Rihanna debuts baby bump at Met Gala.
Trump’s proposal to tax foreign movies receives mixed reactions. A look at the best outfits at the Met Gala. And why some beef-centric fast-food chains are adding more chicken to their menus.
Here’s what to know today.
A day after President Donald Trump proposed tariffs on movies made outside the U.S., he insisted that he was “looking to help” the entertainment industry, not hurt it and he would meet with industry officials to make sure they were happy with his plan.
But industry officials and observers weren’t as optimistic about the initial plan to implement 100% tariffs on movies made outside the U.S. Analysts with Morgan Stanley called the idea “ill-defined” and said the tariff “would lead to fewer films, more expensive films, and lower earnings for all in the business.” In Monday trading, shares in entertainment giants like Netflix, Paramount and Warner Bros. Discovery fell.
It's unclear whether the tariffs would also apply to TV productions, what aspect of a production would be taxed, how they would be charged and whether tariffs could be applied retroactively.
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