Trump posted on social media May 4 that he was "authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.

U.S. President Donald Trump's administration has not yet made any final decisions on foreign film tariffs, but is exploring all options to deliver on the president's directive concerning Hollywood, White House spokesman Kush Desai said on Monday.

The U.S. stock market has already priced in backtracking on the sweeping “liberation day” tariffs announced by President Trump on April 2, according to Sevens Report Research.