Summary:
Trump recently announced that he would be instituting steel tariffs, in an attempt to make good on his "America First" agenda. However, a smarter way to promote this agenda would be through the Hollywood industry, which employs 2 million people and produces $121 billion in income. These services are part of the "creative economy" and have allowed America to be the leading country in cultural exports. China has become America's largest export market for these items and had even yielded a trade surplus in 2012. Trump has always cited China as taking advantage of America through trade, but America would have the opportunity to make lots of money from China by using Hollywood as trade. In April, Trump made an agreement with the Chinese president to increase the number of American movies that are released in China from 38 to a "number to [be] determined later." If Trump works to raise this number to 100, America will be able to make a revenue of $10 billion, since 20 films created a revenue $2 billion. "Because of Hollywood's high visibility, such a deal with benefit President Trump's America First economic agenda by helping to narrow the trade deficit." However, Trump continues to criticize Hollywood stars, such as Meryl Streep, Whoopi Goldberg and Alec Baldwin, instead of taking advantage of the Hollywood industry for the country's economy.
Opinion:
I think using the Hollywood industry for trade is something that Trump should consider and possibly implement in the future. His decision to put in place steel tariffs has clearly caused a lot of controversy, as it will affect many steel companies and their employees negatively. However, using American Hollywood movies for profit will likely not cause any harm to anyone. I think mending his ties with the industry will allow him the possibility to take on this opportunity in the future.
Questions:
1. Do you think taking advantage of the Hollywood industry for trade would truly benefit America's economy?
2. Do you think this is an opportunity that Trump should/will take in the future?
3. Do you think that using the Hollywood industry for trade would be more effective than the steel tariff?
Link: https://www.cnbc.com/2018/03/02/what-the-academy-awards-and-hollywood-can-teach-trump-about-trade-commentary.html
1 comment:
I agree with your thought that using hollywood as a way for the country to make more money as opposed to focusing on controversial steel tariffs sounds like a pretty good idea. I don't see any reason for there not be a positive outcome from this plan, and if Trump has already spoken to China then they must not see an issue either. I can understand why its a little weird for Trump to be planning on making money off of the same people that he continues to criticize, but honestly I don't think that they would have much of a say in this, nor do I believe it would really bother someone to see their movie or a move they are in to be supported by an even larger audience.
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