Shares of Disney, Netflix, Lionsgate Drop on Trump’s 100% Movie Tariff Proposal

Several major American entertainment companies, including Netflix and Disney, saw their share prices take modest hits on Monday morning, a day after President Trump said he would be imposing a 100% tariff on “any and all” films made outside the United States.

Here is a quick look at how a number of entertainment companies are performing, 30 minutes into trading on Monday:

Disney: -0.50%
Paramount: -0.92%
Netflix: -2.28%
Comcast: -0.48%
WB Discovery: -1.46%

Lionsgate, meanwhile, took a bigger hit than its larger counterparts, seeing its share price drop -6.64% on Monday morning. And Tokyo-based Sony, which trades on the New York Stock Exchange, saw its share price drop 0.41%.

The decline for the aforementioned entertainment giants coincides with the markets taking a hit overall, with the S&P 500 down 0.56%, the Nasdaq down 0.63% and the Dow Jones declining 0.14%.

On Sunday evening, President Trump announced his 100% tariff on foreign movies coming into the States — a move he said is necessary to save a “DYING” film industry.

“Hollywood, and many other areas within the U.S.A., are being devastated. This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!” President Trump shared in a post on Truth Social. “Therefore, I am 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. WE WANT MOVIES MADE IN AMERICA, AGAIN!”

The announcement came as domestic production has slowed down in recent years, with on-location shooting in Los Angeles County dropping 22% year-over-year in the first quarter of 2025, to point to one stark example. President Trump’s plan has also raised some questions, including whether TV series filmed abroad will also be hit by the 100% tariff. But so far, it does not look like the announcement has induced full-blown panic in investors of the top entertainment companies.

In other markets- and tariff-related news, President Trump over the weekend said he has trade deals lined up with multiple countries and that they may be announced this week. He also told “Meet the Press” the current 145% tariff on Chinese imports will be reduced, sooner or later.

“At some point, I’m going to lower them, because otherwise, you could never do business with them, and they want to do business very much,” Trump said.

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