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In the latest installment in President Trump's tariff saga, the US commander-in-chief has threatened a 100% tariff against foreign-made films, with shares of entertainment companies like Disney (DIS), Paramount Global (PARA, PARAA), Netflix (NFLX), and Warner Bros. Discovery (WBD) reacting negatively to this headline on Monday.
Yahoo Finance Washington correspondent Ben Werschkul comes on to discuss how Trump could use a formal declaration of a national emergency to achieve this.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Well, President Donald Trump offered that unexpected twist in his trade war Sunday evening by floating the 100% tariff on foreign movies, but he did it in a familiar way by hinting that a national emergency declaration could be in the offing to achieve his ends. Yahoo Finance's Ben Wershcool, joining us now with more. And this tool of this so-called national emergency declaration. Talk to us about that, Ben.
For sure. Yeah. One thing we've learned about Trump in these first little hundred plus days is that there's a lot of emergencies in his mind going on. He's had eight formal national emergencies that he's declared since taking office, three on the his first day in office alone. These are on issues from energy to the border to, um, to most most notably reciprocal tariffs on Liberation Day. And it's also something he brings up a lot just just even if he doesn't follow through formally though, this Hollywood, this Hollywood example is just the most recent example. He's talked about California water as an emergent as under emergency powers too. It's something that Trump and his team have been studying for a lot of years, the four years of Joe Biden's presidency. His allies were were focused on emergency powers as a way to get around Congress and to move quickly. And as this Hollywood example shows that their bar that they bring up a lot of things under, under kind of this emergency language, this Hollywood things. Even though what we're seeing in the last four days, as Ali pointed up very aptly, Trump said last night, everyone's going to love this, this tariff. Hollywood clearly doesn't and he's backing away. So, so, but he's still under this idea of an emergency, which I think we're going to see a lot of going forward.