US tariff shock hits Cannes film market

Buyers and sellers are heading into this year’s Cannes Film Market under a cloud of uncertainty as the initial shock of US President Donald Trump's proposed 100% tariff on foreign-made films has faded into a cautious business-as-usual approach.

- MIRANDA MURRAY

While the Cannes Film Festival conjures visions of glamorous celebrities on the red carpet and yacht parties, the film market, the world’s largest, is the main attraction, bringing together industry players, big and small, to do business.

With over 15,000 participants from more than 140 countries, this year's market is set to match last year's record attendance, with the United States still the top participating country despite the recent shifts in international policy.

The market has become even more important because the indie film industry — still struggling in the wake of the pandemic and the 2023 Hollywood double strike — has to be more selective about where to put resources when pursuing deals, according to Scott Roxborough, European bureau chief for The Hollywood Reporter.

The American Pavilion, which represents US interests at the market, said it expected tariffs would be brought up during panel discussions but did not plan any talks dedicated to them.