Reuters World News Hollywood tariffs, the Trump effect in global elections, 'Diddy' trial and the Fed
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May 5, 2025 President Trump's bold move to impose 100% tariffs on foreign films sparks debate over its impact on Hollywood's future. The ripple effects of his policies are examined, particularly their influence on global elections, illustrated by Australia's recent anti-Trump sentiment. Attention shifts to Sean 'Diddy' Combs' looming sex trafficking trial, raising questions about the serious allegations involved. Plus, the upcoming Federal Reserve meeting looms over economic uncertainty, as the team explores the implications of tariffs on the U.S. economy.
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Trump's Hollywood Tariff Strategy
- Trump imposed a 100% tariff on foreign-made movies to protect Hollywood from decline.
- This reflects ongoing shifts in movie production to cheaper locations with tax incentives outside the U.S.
Fed Cautious Amid Tariff Uncertainty
- The Fed plans to hold rates as tariff impacts on the economy remain unclear.
- Policymakers expect complex internal debates despite outward calm, awaiting clearer economic effects.
Trump's Global Election Influence
- Trump's policies shifted voter sentiment in Australia and Canada, influencing elections.
- Europe presents mixed results with rising nationalism but ongoing anti-incumbency sentiments driven by cost of living.