Trump proposes new tariff plan involving the film and furniture industries; market reaction is tepid

According to the Zhitong Finance APP, on Monday, U.S. President Trump announced on social media that he would impose new tariffs on imported movies and furniture through two broad but vaguely detailed plans to revitalize related industries in the United States.

Trump stated that he would impose large tariffs on "any country that does not manufacture furniture in the U.S." and claimed that this move aims to make North Carolina, which has handed over its furniture industry to other countries, "great again." However, there are doubts about the feasibility of this statement, as tariffs are typically levied on specific imported goods rather than directly on countries.

Additionally, Trump reiterated the threat of imposing a 100% tariff on "all movies made outside the U.S." and claimed that the American film industry is being "plundered" by foreign entities, particularly affecting California, but did not disclose specific implementation details. Analysts pointed out that film production involves global operations, with shooting and post-production often distributed across multiple countries, making it difficult to define the tariff standards.

The market reacted lukewarmly; as of the time of writing, Netflix (NFLX.US) was up 0.8%, Warner Bros. Discovery (WBD.US) was down 0.74%, and Disney (DIS.US) was up 0.7%.

Currently, the Trump administration has not responded to requests for comments on the details of the new tariffs. Last week, Trump announced a 30% tariff on soft-pack furniture starting Wednesday and a 50% import tax on kitchen cabinets and bathroom sinks. Analysts indicated that while these measures aim to boost domestic manufacturing in the U.S., they also add more uncertainty to Trump's tariff policy