U.S. President Donald Trump’s tariffs on Canadian goods could harm Hollywood’s film industry, according to CNBC.
According to Hollywood sources cited by the network, the president’s decision will lead to an increase in film production costs. Experts also believe that due to the overall rise in food prices, Americans will be forced to cut back on their entertainment spending.
“Trump’s tariffs could pressure film and television budgets due to imported equipment, while higher tariffs in other sectors could hit potential viewers’ wallets and jeopardize box office sales,” a source told the publication.
CNBC clarifies that American filmmakers and studios could face difficulties because Canada has long been a “vibrant production hub for American cinema.” The country is even jokingly referred to as “Northern Hollywood.”
Earlier, it was reported that several shopping malls in Canada had started removing American alcohol from their shelves in favor of promoting local products.