Hollywood power players aren’t waiting for the next Trump tweet to figure out what comes next. On Friday, studio execs from the likes of Netflix, Disney, Amazon, and Warner Bros. quietly dialed in to a closed-door strategy call organized by Motion Picture Association CEO Charles Rivkin. The goal? Coordinate a response to Donald Trump’s surprise call for a 100% tariff on films made outside the U.S.—and start prepping for what could be an unpredictable White House meeting.

According to sources with knowledge of the call, the discussion kicked off with a simple question: What does the President need to understand about how production really works today? From there, the conversation quickly turned to California’s incentive shortcomings and how a fix at the state level might do more to bring production home than a globally disruptive tariff.

Sony Pictures CEO Ravi Ahuja, speaking on the heels of the Milken Global Conference, summed it up bluntly: “Yes, production has left the U.S.—but it’s even worse for California.” Tom Rothman, Sony’s Motion Picture Group Chair, also attended the call, which one insider said resembled a routine MPA check-in more than a crisis summit. Still, the stakes were clear.

The lineup of executives expected to weigh in reads like a who’s who of studio muscle: Disney’s Alan Bergman, Amazon’s Mike Hopkins, Universal’s Donna Langley, Paramount’s Brian Robbins, Netflix’s Ted Sarandos, and WBD’s David Zaslav. Their collective challenge? Navigating a volatile policy landscape in which Trump, fresh off a meeting with “Hollywood ambassador” Jon Voight, decided to unilaterally float tariffs that would upend decades of international co-productions.

So far, there’s no confirmed date for a Trump-Hollywood summit, but studios are bracing. The former president’s framing of foreign film subsidies as a “national security threat” has rattled the town and divided industry opinion.

While the entertainment industry may be unified in opposing a blanket tariff, it’s far from unified on how to respond—or who should lead the charge. What is clear is that any policy emerging from this standoff could reshape production strategies for years to come.

Stay tuned. Hollywood’s next major release might be its own trade policy.