President Trump on Monday pledged to impose the 100% tariff on foreign-made movies he first promised in May, saying the film business had been "stolen" from the U.S.

Why it matters: Such a levy could cause massive disruption to the entertainment industry, given the volume of media produced outside the U.S. • It's not clear when or how the tariff would be levied, and whether the burden would be on the producers, distributors or somewhere in between. • While President Trump said the tariff would apply to "any and all movies that are made outside of the United States," it's not clear how much work on a film would deem it to be foreign made.

The big picture: Many Hollywood films are at least partially shot or edited overseas. • Countries like the U.K., Canada and others often offer tax

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