Disney CFO Hugh Johnston has praised President Trump’s stated desire to help get the U.S. film industry back on track, praise that is surprising many in Hollywood.
Johnston delivered his surprising backing during an appearance on CNBC where he said he was “encouraged” by the president’s concern for the health of the industry, though he didn’t necessarily agree with Trump’s tariff suggestion.
“It’s a little bit early to try to do the math on 100% tariffs or anything like that,” Johnston told CNBC. “What I was actually most encouraged by was the President talked about the fact that he wants to help the industry and he wants to make the industry stronger. We certainly are more than happy to help in terms of designing things that would make sense to make the industry stronger, and we look forward to doing that.”
Disney does have a wide US-based filmmaking infrastructure, but some of its biggest franchises — including Star Wars and the Marvel universe — are deeply entrenched in the U.K. and elsewhere, and a hefty tariff on foreign-produced films could have a major impact on Disney’s tentpole properties.
The president’s ideas about helping return the U.S. to film and TV production prominence has experienced a mixed reception in. Hollywood.
California Gov. Gavin Newsom, who has been a stark opponent of the president, has scrambled to head off the tariff and has offered a package of ideas for the federal government to assist the film industry.
Others have strongly denounced the tariff plan. Left-wing A Wrinkle in Time director Ava DuVernay blasted Trump as a “catastrophe” for the film industry.
Several insiders and producers also came out swinging against the tariff idea. One producer told Variety that such a tariff “makes no sense” because the film industry is a worldwide operation, and has been for decades, long before Hollywood started its decline.
Others, though, praised the president for at least trying to save the film industry. Comedian and podcaster Theo Von, for one, welcomed the president’s efforts and insisted that if something isn’t done soon, “it’s a wrap” on Hollywood.
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