Netflix, Walt Disney Co., and Paramount Global were among other media stocks that dropped on Wall Street on Monday, May 5, 2025, after US President Donald Trump announced 100 per cent tariffs on foreign movies in efforts to save the American movie industry and Hollywood, according to a Truth Social post on May 5, 2025.
“The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated,” said Trump in his post on Truth Social.
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