Trump’s rates on foreign films related to ‘Watching a train wreck in slow motion’: CapitalMind’s Deepak Shenoy

The 100% rate decision of US President Donald Trump on all foreign films made outside the US is related to a train wreck in Slow Motion, Deepak Shenoy, CEO of CapitalMind AMC, noticed in a tweet. He also sees Bollywood not to indicate. This is why.

“This is when watching a train wreck in slow motion, made entirely in the US,” said Shenoy in a tweet.

In a response to a media report that suggests that Indian films would be influenced by this decision, the CEO said differently. “Not really -this stuff is usually price -sensitive. Bollywood is likely to switch to non -theatrical releases (online?) To prevent this, although I would like to see the economy of the American film collection activities. Earlier, not -India Rights were fought by the Mafia of Bombay,” he added.

Trump’s rate decision on foreign films that were made outside the US came on Monday. The announcement had a sentimental impact on many US shares, including Warner Bros, Netflix, Cinemark Holdings and Marcus Corporation that fell to 3.3% on Monday.

With regard to the Indian shares, PVR stainless steel and Prime Focus today fell to 5%, responded to the announcement. Trump announced the measure in a position on his social social platform and claims that making films in the US is losing territory to international competition. “Our films have been stolen from the United States of America, by other countries, just like stealing a baby’s candy,” he wrote. The movement comes as a new setback for world trade and is third in less than two weeks. Previously, Trump had announced a 100% rate for brand -bound and patented drugs imported into the US. He also gave an executive order that the annual H-1B Visa application costs increased from $ 1,000 to $ 100,000 per applicant. The Trump administration later clarified that the reimbursement was once and only new applications.

The step gives Trump’s willingness to extend protectionist trade policy to cultural industries, which increases uncertainty for studios that are highly dependent on international income from the cash register and cross -border coproductions.

Trump had first driven the idea of ​​a film rate in May, but offered very few details, so entertainment managers were not sure whether it would apply to specific countries or all imports.

(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)