US media stocks down after Trump unveils 100% tariff on foreign-made movies

Shares of U.S. media firms fall premarket after President Trump orders 100% tariff on movies produced outside the country to save 'dying' Hollywood

Among the hardest hit stocks before the bell are Netflix NFLX.O, down 5%, and Warner Bros Discovery WBD.O, off 3%

Trump on Sun called other countries' incentives to lure filmmakers a national security threat, and said he was authorizing the relevant government agencies, such as the Department of Commerce, to immediately begin the process of imposing the tariff

It was unclear, however, if the tariffs would apply to movies on streaming services as well as those shown in theaters, as Hollywood executives tried to sort out details

Walt Disney DIS.N down 2%, Paramount Global PARA.O down 2% and Comcast CMSCA.O dips 0.5% premarket

Shares of Amazon.com AMZN.O, which recently took creative control of the 'James Bond' franchise, down 1.6%