NEW YORK (AP) — President Donald Trump is eyeing Hollywood for his next round of tariffs, threatening to levy all films produced outside the U.S. at a steep rate of 100%.

Arriving just days before what can often be a bustling acquisitions marketplace at the Cannes Film Festival, studio chieftains hastily organized war rooms to discuss implications surrounding the tariffs and ponder potential courses of action.

Donald Trump said the American movie industry was dying a "very fast death" due to the incentives that other countries were offering to lure filmmakers.