US President Donald Trump first floated the idea of levying foreign films in May, causing shares in US media giants to slump at the time. Photo: Bloomberg
US President Donald Trump said he would levy new tariffs to boost the domestic film and furniture industries through a pair of sweeping, yet confusing, plans.
Trump posted on social media Monday that he would be "imposing substantial Tariffs on any Country that does not make its furniture in the United States.” It’s unclear how that would work; companies, not countries, manufacture furniture and the duties are charged on specific imports, not governments.
