Steve Saretsky

No, that's not.

That's just the occasional Trump rant where it seems like every six to 12 months he talks about tariffing foreign films.

No one is really clear on how he would actually do that.

Okay.

Because it's intellectual property.

But this is unquestionably a big trade issue.

And what makes this particularly notable, as I'm sure you know, is that we're about to enter into renegotiations with the United States on Kuzma.

And we've just handed them a proverbial Trump card.

You know, no pun intended here, right?

Where...

We are going in knowingly violating the existing deal, giving the U.S.

the ability, if this follows through, to apply hundreds of millions in tariffs.

And of course, you know, we've just gone through a process of a year and change where the U.S.

has been very active on the tariff front.

And Canada's response has often been, well, these are unlawful tariffs.

We're going to retaliate.

In this instance, this is a tariff that we literally negotiated would be permissible so long as we use the cultural exemption.

There is no ability to say in this instance, well, no, no, no, I think you're wrong.

You shouldn't be levying this tariff.

Here's one that we actually essentially asked for.