Thursday, April 23, 2026
newmoneyfront.com
Advertisement
  • News
  • Share Market
  • Commodoties
  • Forex
  • Crypto
No Result
View All Result
  • News
  • Share Market
  • Commodoties
  • Forex
  • Crypto
No Result
View All Result
newmoneyfront.com
No Result
View All Result
Home Forex

Despite the new trade deal, could tariffs still destroy the UK film industry?

For your consideration by For your consideration
May 9, 2025
in Forex
0
Despite the new trade deal, could tariffs still destroy the UK film industry?
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Yesterday, Britain and America signed their first trade deal under Trump: hooray! But while many people will be celebrating, those working in the UK film industry won’t be popping their champagne corks just yet.

It’s no exaggeration to say that this industry is facing an existential threat following Donald Trump’s announcement earlier this week that he’ll be imposing 100% tariffs on foreign-made films entering the US market.

This protectionist policy, aimed at revitalising America’s domestic film industry, has sent shockwaves through Britain’s £1.36 billion film sector, which employs more than 195,000 people and relies heavily on collaborations with US studios.

So what’s going on exactly, and how will it affect freelancers in the UK film industry?

Making Hollywood Great Again

On Monday (5 May), President Trump declared his intention to implement a 100% tariff on films “produced in foreign lands,” claiming that America’s movie industry was dying “a very fast death.” The announcement, made without specific details on implementation, was characterised as part of an effort to “safeguard our country’s national and economic security while
Making Hollywood Great Again.”

Trump later softened his tone, stating on Tuesday that he was “not looking to hurt the industry” and planned to meet with sector leaders. The announcement has already prompted major concern among UK filmmakers and industry professionals.

At the same time, most people recognise that there’s an underlying problem that needs to be addressed. In short, Hollywood has been declining for some time, with many productions moving to other states and markets such as Canada, the UK, and Australia.

This exodus from Hollywood is primarily economic rather than cultural. The main issue isn’t foreign films taking precedence over domestic ones, but rather that filming is cheaper outside of the US due to tax incentives and lower costs.

Potential impact on the UK film industry

The UK is a prime example of a country that’s been doing very well at this kind of thing. It’s just over 10 years since I witnessed then-Chancellor of the Exchequer, George Osbourne, opening the London studio of visual effects house ILM, ready to work on Star Wars: The Force Awakens, after the Coalition government handed out some juicy tax breaks. And this was by no means an unusual event.

Throughout the 21st century—basically, since JK Rowling insisted the Harry Potter movies be filmed in her own country—Britain has established itself as a filmmaking powerhouse, with dozens of blockbusters choosing studios here for their principal photography.

Recent productions filmed substantially in the UK include Wicked, Mission Impossible: The Final Reckoning, Barbie and Jurassic World Rebirth. Or, to put it more simply, most of the recent movies you’ve actually heard of.

If implemented, Trump’s tariffs could devastate this thriving industry. And if US films stop being produced in the UK, it would be a catastrophic blow to an industry still recovering from COVID and recent strikes, putting tens of thousands of skilled freelancers at risk.

The UK government has responded cautiously, stating it is taking a “calm and steady approach” to negotiations with Washington. Culture Minister Chris Bryant confirmed on Wednesday that the government is in “active discussions with the top of the US administration on this subject” and planned to meet with UK industry leaders.

Expert perspectives

It’s perhaps not surprising that Brits have responded with howls of protest to these tariff proposals. But it’s not just about self-interest. Russell Owen, director and co-founder at Kindred Communications, believes they demonstrate a fundamental misunderstanding of how the global film industry operates.

“It’s nonsensical,” he proclaims. “Hollywood relies on shooting abroad and gaining benefits not just from tax incentives but also from international locations and talent. The majority of the earnings go back to the US. California doesn’t shoot as much because the overall cost of shooting there is very high.”

He predicts that if Trump’s plan goes ahead, it will only backfire in its aim to protect the American film business. “These tariffs are very far from the solution,” he argues. “In fact, they’re quite the opposite. Serious discussions with states and their openness and incentives could help draw production and post services back. But tariffs by themselves would severely cripple the movie industry economy overall.”

Filmmaker and screenwriter Miles Watts, who is currently working with producers in both the UK and LA, agrees. “If the new tariffs come in as they are, the film industry will suffer terribly,” he maintains. “Film in the UK brings in so much money, but if no one is tempted to come and film over here, we’re done for. Conversely, in the US, they’ll lose the tax incentives and deals we can offer. That means prices will be raised so high, only huge tentpole movies will get made.”

And this is making people working in UK film very worried indeed. “I have many friends who are skilled film crew, having worked on Marvel and Star Wars films as well as UK-based—and often US-funded—films,” he says. “And right now, they’re wondering if the future is as bleak as it looks. I’ve heard someone refer to having a film crew role as being like ‘having a boat space on the Titanic’ and being unwilling to give it up. When you hear things like that, it’s not great, is it?”

Policy or provocation?

At the same time, Miles can perceive a potential silver lining in all of this. “I can almost see what Trump is trying to do here, which is to provoke,” he says. “And I’m not necessarily against provocation as long as there follows a balanced discussion. The film industry worldwide needs some discussion, and more importantly, solutions, after the pandemic, the fires, the strikes, and now this.”

Of course, it remains to be seen whether these tariff threats are genuine policy intent or merely a negotiating tactic. But the global film industry’s interconnected nature means such measures risk harming all parties involved, potentially undermining the very industry they claim to protect.

Miles hopes this can be avoided. “Trump is one of those guys who you can agree or disagree with or try and ignore,” he reasons. “But huge sweeping moves like these tariffs mean we have no choice but to get up and join the discussion. Which is perhaps exactly what he wants: can he and Starmer please sit down and work something out pronto?

“The UK and the US—and every other country—just want to work together to have a fair shot at getting their films made, whatever it takes,” he stresses. “There is a way of working together for mutual advantage. There’s a lot of work to do, a balance to strike. We’ve had the provocation; now we need the discussion.”

You might also like

EssilorLuxottica Q1 Revenues Up 10.8%

Russia’s Forex Market Hits Record $68B Volume, But it’s a One-Player Show

BitMEX and Zodia Custody Launch Secure Off-Exchange Trading Solution

Yesterday, Britain and America signed their first trade deal under Trump: hooray! But while many people will be celebrating, those working in the UK film industry won’t be popping their champagne corks just yet.

It’s no exaggeration to say that this industry is facing an existential threat following Donald Trump’s announcement earlier this week that he’ll be imposing 100% tariffs on foreign-made films entering the US market.

This protectionist policy, aimed at revitalising America’s domestic film industry, has sent shockwaves through Britain’s £1.36 billion film sector, which employs more than 195,000 people and relies heavily on collaborations with US studios.

So what’s going on exactly, and how will it affect freelancers in the UK film industry?

Making Hollywood Great Again

On Monday (5 May), President Trump declared his intention to implement a 100% tariff on films “produced in foreign lands,” claiming that America’s movie industry was dying “a very fast death.” The announcement, made without specific details on implementation, was characterised as part of an effort to “safeguard our country’s national and economic security while
Making Hollywood Great Again.”

Trump later softened his tone, stating on Tuesday that he was “not looking to hurt the industry” and planned to meet with sector leaders. The announcement has already prompted major concern among UK filmmakers and industry professionals.

At the same time, most people recognise that there’s an underlying problem that needs to be addressed. In short, Hollywood has been declining for some time, with many productions moving to other states and markets such as Canada, the UK, and Australia.

This exodus from Hollywood is primarily economic rather than cultural. The main issue isn’t foreign films taking precedence over domestic ones, but rather that filming is cheaper outside of the US due to tax incentives and lower costs.

Potential impact on the UK film industry

The UK is a prime example of a country that’s been doing very well at this kind of thing. It’s just over 10 years since I witnessed then-Chancellor of the Exchequer, George Osbourne, opening the London studio of visual effects house ILM, ready to work on Star Wars: The Force Awakens, after the Coalition government handed out some juicy tax breaks. And this was by no means an unusual event.

Throughout the 21st century—basically, since JK Rowling insisted the Harry Potter movies be filmed in her own country—Britain has established itself as a filmmaking powerhouse, with dozens of blockbusters choosing studios here for their principal photography.

Recent productions filmed substantially in the UK include Wicked, Mission Impossible: The Final Reckoning, Barbie and Jurassic World Rebirth. Or, to put it more simply, most of the recent movies you’ve actually heard of.

If implemented, Trump’s tariffs could devastate this thriving industry. And if US films stop being produced in the UK, it would be a catastrophic blow to an industry still recovering from COVID and recent strikes, putting tens of thousands of skilled freelancers at risk.

The UK government has responded cautiously, stating it is taking a “calm and steady approach” to negotiations with Washington. Culture Minister Chris Bryant confirmed on Wednesday that the government is in “active discussions with the top of the US administration on this subject” and planned to meet with UK industry leaders.

Expert perspectives

It’s perhaps not surprising that Brits have responded with howls of protest to these tariff proposals. But it’s not just about self-interest. Russell Owen, director and co-founder at Kindred Communications, believes they demonstrate a fundamental misunderstanding of how the global film industry operates.

“It’s nonsensical,” he proclaims. “Hollywood relies on shooting abroad and gaining benefits not just from tax incentives but also from international locations and talent. The majority of the earnings go back to the US. California doesn’t shoot as much because the overall cost of shooting there is very high.”

He predicts that if Trump’s plan goes ahead, it will only backfire in its aim to protect the American film business. “These tariffs are very far from the solution,” he argues. “In fact, they’re quite the opposite. Serious discussions with states and their openness and incentives could help draw production and post services back. But tariffs by themselves would severely cripple the movie industry economy overall.”

Filmmaker and screenwriter Miles Watts, who is currently working with producers in both the UK and LA, agrees. “If the new tariffs come in as they are, the film industry will suffer terribly,” he maintains. “Film in the UK brings in so much money, but if no one is tempted to come and film over here, we’re done for. Conversely, in the US, they’ll lose the tax incentives and deals we can offer. That means prices will be raised so high, only huge tentpole movies will get made.”

And this is making people working in UK film very worried indeed. “I have many friends who are skilled film crew, having worked on Marvel and Star Wars films as well as UK-based—and often US-funded—films,” he says. “And right now, they’re wondering if the future is as bleak as it looks. I’ve heard someone refer to having a film crew role as being like ‘having a boat space on the Titanic’ and being unwilling to give it up. When you hear things like that, it’s not great, is it?”

Policy or provocation?

At the same time, Miles can perceive a potential silver lining in all of this. “I can almost see what Trump is trying to do here, which is to provoke,” he says. “And I’m not necessarily against provocation as long as there follows a balanced discussion. The film industry worldwide needs some discussion, and more importantly, solutions, after the pandemic, the fires, the strikes, and now this.”

Of course, it remains to be seen whether these tariff threats are genuine policy intent or merely a negotiating tactic. But the global film industry’s interconnected nature means such measures risk harming all parties involved, potentially undermining the very industry they claim to protect.

Miles hopes this can be avoided. “Trump is one of those guys who you can agree or disagree with or try and ignore,” he reasons. “But huge sweeping moves like these tariffs mean we have no choice but to get up and join the discussion. Which is perhaps exactly what he wants: can he and Starmer please sit down and work something out pronto?

“The UK and the US—and every other country—just want to work together to have a fair shot at getting their films made, whatever it takes,” he stresses. “There is a way of working together for mutual advantage. There’s a lot of work to do, a balance to strike. We’ve had the provocation; now we need the discussion.”

Share30Tweet19
For your consideration

For your consideration

Recommended For You

EssilorLuxottica Q1 Revenues Up 10.8%

by For your consideration
April 22, 2026
0
EssilorLuxottica Q1 Revenues Up 10.8%

(RTTNews) - EssilorLuxottica (ESLOY.PK, ESLOF.PK, EL.PA, ESL.DE) on Wednesday announced that consolidated revenue for the first quarter of 2026 reached 7,127 million euros, representing a year-on-year increase of...

Read moreDetails

Russia’s Forex Market Hits Record $68B Volume, But it’s a One-Player Show

by For your consideration
April 22, 2026
0
Russia’s Forex Market Hits Record $68B Volume, But it’s a One-Player Show

FM Daily Brief: 21 April 2026 FM Daily Brief: 21 April 2026 FM Daily Brief: 21 April 2026 FM Daily Brief: 21 April 2026 It's Tuesday, the twenty-first...

Read moreDetails

BitMEX and Zodia Custody Launch Secure Off-Exchange Trading Solution

by For your consideration
April 21, 2026
0
BitMEX and Zodia Custody Launch Secure Off-Exchange Trading Solution

Key Highlights BitMEX now available on Zodia Custody’s Interchange platform for secure trading Institutions can execute trades while maintaining full custody control of assets Off-exchange settlement model provides...

Read moreDetails

Iran reopens Strait of Hormuz, but Trump says blockade on Iranian ships and ports will stay in force

by For your consideration
April 20, 2026
0
Iran reopens Strait of Hormuz, but Trump says blockade on Iranian ships and ports will stay in force

BEIRUT (AP) — Iran said Friday it fully reopened the Strait of Hormuz to commercial vessels, but U.S. President Donald Trump said the American blockade on Iranian ships...

Read moreDetails

RaveDAO’s RAVE token collapses 90% in a day as exchange probes widen

by For your consideration
April 19, 2026
0
RaveDAO’s RAVE token collapses 90% in a day as exchange probes widen

The token traded at $1.15 on Sunday, down from a $27.33 peak on Friday, wiping out more than $5 billion in market cap as investigations into Binance and...

Read moreDetails
Next Post
Trump’s trade saga is further proof that trying to time the stock market is a fool’s errand

Trump's trade saga is further proof that trying to time the stock market is a fool's errand

Related News

ZachXBT warns of ongoing EVM wallet drains totaling over $107K

ZachXBT warns of ongoing EVM wallet drains totaling over $107K

January 2, 2026
Stock Market Today: Stocks Sag As Last Full Trading Week of Third Quarter Kicks Off

Stock Market Today: Stocks Sag As Last Full Trading Week of Third Quarter Kicks Off

September 22, 2025
Your March Madness bracket could wreck your stock portfolio — so ‘sit on your hands’ until April 6

Your March Madness bracket could wreck your stock portfolio — so ‘sit on your hands’ until April 6

March 21, 2026

Browse by Category

  • Commodoties
  • Crypto
  • Finance News
  • Forex
  • Share Market
newmoneyfront.com

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

CATEGORIES

  • Commodoties
  • Crypto
  • Finance News
  • Forex
  • Share Market

BROWSE BY TAG

asx AUSTRALIA Bitcoin china christians Cryptocurrencies donald trump E-Commerce Economy Fed Tapering freedom INVESTMENT jpy Market Stories money Obligation peace profit russia shares stock market stocks Strategy Tax Trading truth

Copyright © 2024 newmoneyfront.com! Design by Freelancing Solution. All Rights Reserved.

No Result
View All Result
  • News
  • Share Market
  • Commodoties
  • Forex
  • Crypto

Copyright © 2024 newmoneyfront.com! Design by Freelancing Solution. All Rights Reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?