Shares of PVR INOX and Prime Focus declined by 5% in Tuesday’s trade, after U.S. president Donald Trump announced 100% tariffs on movies made outside the country.

"Our movie-making business has been stolen from the United States of America by other countries, just like stealing candy from a baby. To solve this long-time, never-ending problem, I will be imposing a 100 per cent tariff on any and all movies that are made outside of the United States," Trump said in a Truth Social post.

Trump had initially threatened to impose tariffs on foreign movies in May, but had not announced when they would be implemented. The new tariff announcement comes soon after more products and services, including kitchen cabinets, big trucks, and lumber products, were added to the new tariff list.

PVR INOX shares were down by 2.37% at ₹1074.54, while the Ranbir Kapoor-backed Prime Focus’s shares declined by 5%, to trade at ₹148.54.

Meanwhile, Nifty Media dipped by 1.34%, with 7 out of 10 constituents trading in the red. Nazara was also among the top laggards, declining by 4.62%. Hathway, Saregama, and DB Corp were the top gainers on the media index.

Meanwhile, the U.S. administration is yet to clarify on what exactly these tariffs would be imposed on, as movies and other media are streamed digitally around the globe. Further questions on how it will be implemented on US films shot in foreign regions remain to be answered.