Multiple film and television companies' stock prices have fallen, analysts say that U.S. movie tariffs will severely damage Netflix.

Recently, US President Trump announced plans to impose tariffs as high as 100% on movies produced overseas. Following the news, streaming platform Netflix saw a drop of over 4% in early trading, and closed down by about 1.9%, ending an 11-day streak of gains. Additionally, major US film and television companies such as Warner Bros, Discovery Group, Paramount, and Disney all saw their stock prices fall overnight, with declines ranging from 0.4% to nearly 2%. Analysts at Citigroup point out that if the movie tariffs are implemented, Netflix is expected to be hit the hardest. Half of its original content is produced outside the US. Based on this data, a 100% tariff on movies could lead to a 20% decrease in earnings per share.