分类： business

Former U.S. President Donald Trump has reiterated his controversial proposal to impose a 100% tariff on all films not produced within the United States, asserting that the American film industry has been ‘stolen’ by other nations. Speaking on his Truth Social platform, Trump emphasized that California, in particular, has suffered significantly due to the decline in domestic film production. He framed the tariff as a solution to what he described as a ‘long-time, never-ending problem.’

This announcement follows Trump’s broader tariff strategy, which recently included a 100% levy on branded or patented drug imports and 50% tariffs on kitchen and bathroom cabinets. Trump’s rhetoric has drawn criticism and skepticism, with many questioning the feasibility and economic impact of such a policy. Investment analyst Dan Coatsworth of AJ Bell highlighted the complexities of defining what constitutes an ‘American-made’ film, especially when productions involve foreign actors, directors, or funding.

Coatsworth also noted that filmmakers have increasingly relocated to countries offering more favorable tax incentives, leading to a decline in the prominence of the Los Angeles film industry. He warned that forcing productions back to the U.S. could drive up costs, which might ultimately be passed on to consumers, potentially harming demand for streaming services and cinema operators. Despite these concerns, investors have yet to treat the proposal as a serious threat, with stocks for companies like Netflix and Disney showing only brief dips before recovering.

The proposal’s implications for streaming platforms and international co-productions remain unclear. For instance, films like ‘Wicked,’ which was shot in the UK but produced by an American studio, could face ambiguous treatment under the proposed tariffs. Recent data from movie industry research firm ProdPro reveals that while the U.S. remains a major global production hub, spending has declined by 26% since 2022, with countries like Australia, New Zealand, Canada, and the UK attracting increased investment.

Canada Post workers have initiated a nationwide strike following the federal government’s approval of sweeping reforms aimed at restructuring the postal service. The Canadian Union of Postal Workers (CUPW) has labeled these reforms as an ‘attack on our postal service and workers,’ prompting the industrial action. This strike, involving 55,000 union members, escalates an ongoing dispute over pay and benefits that previously led to a weeks-long walkout in late 2023. Canada Post has warned that operations will cease during the strike, leaving millions of mail and parcels undelivered and exacerbating the corporation’s already precarious financial situation. The proposed reforms include the closure of several post offices, particularly in rural areas, and granting the service greater flexibility to adjust pricing. Additionally, Canada Post plans to reduce air parcel deliveries in favor of ground transportation to cut costs. A contentious proposal involves ending home deliveries, redirecting parcels to community mailboxes instead of individual residences. This change would affect approximately four million addresses nationwide. Procurement Minister Joël Lightbound emphasized that the reforms are essential to save Canada Post, which reported a C$1 billion loss last year and is projected to lose C$1.5 billion in 2024. However, the CUPW argues that these measures will undermine public service and fail to address customer needs. The Canadian Association of Independent Business has expressed concerns over the strike’s timing, warning of a ‘massive’ impact on small businesses, particularly during the critical holiday retail shipping season. While government social security cheques will continue to be delivered, negotiations on the pay dispute remain unresolved, leaving the future of Canada Post and its workers in uncertainty.

In a significant move to bolster domestic manufacturing, former President Donald Trump unveiled a series of new tariffs on Thursday, targeting a wide range of imported goods. The measures include a 100% levy on branded pharmaceuticals unless the manufacturer establishes a production facility within the United States. Additionally, heavy-duty trucks will face a 25% tariff, while kitchen and bathroom cabinets will be subject to a 50% duty. Upholstered furniture will also incur a 30% tariff starting next week. Trump announced these industry-focused tariffs via his Truth Social platform, emphasizing the need to shield American manufacturers from what he described as the ‘flooding’ of foreign products into the US market. He argued that these measures would protect companies like Peterbilt and Mack Trucks from ‘unfair outside competition’ and support local manufacturers impacted by high import levels. The new tariffs expand on Trump’s existing trade policies, which have targeted over 90 countries since August, aiming to boost US jobs and manufacturing. However, the US Chamber of Commerce has voiced concerns, warning that many truck parts are sourced from allies like Mexico, Canada, Germany, Finland, and Japan, and that domestic sourcing is impractical, potentially driving up costs for the industry.