The U.S. stock market has already priced in backtracking on the sweeping “liberation day” tariffs announced by President Trump on April 2, according to Sevens Report Research.

The administration says it is still intent on "Making Hollywood Great Again" though it suggests it will take time for tariff plan to come to fruition.

The White House said this morning that “no final decisions” have been made on whether to impose foreign film tariffs, after Donald Trump said that he was authorizing agencies to pursue 100% levies on movies produced in other countries.