China retaliates with film import cuts amid Trump's tariffs
China is imposing restrictions on the import of American films as another response to the massive tariffs imposed by the Trump administration. The President of the United States commented on the situation in his usual style: "I think I’ve heard of worse things. "
What you need to know
- China announced immediate restrictions on the import of American films in response to the escalating tariffs on Chinese goods by the Trump administration.
- President Trump reacted to China's decision during a cabinet meeting, stating that he had heard of worse things, which elicited laughter from those present.
- Experts predict minimal financial impact of this decision since profits from American films in China have significantly decreased in recent years.
Consequences for Hollywood
China is restricting the import of American films. The National Film Administration in Beijing announced that it will reduce the number of films imported from the USA in response to the tariffs imposed on China by Trump. Previously, China imported about 10 Hollywood productions annually, but now the situation might change.
During the cabinet meeting, Trump was asked about his reaction to the latest move by China, concerning the restriction on the export of American films. "I think I’ve heard of worse things," said the President, which provoked laughter among those present.
Minimal loss
American films, once popular in the Chinese market, are now being overshadowed by local productions. An example is the success of the Chinese film "Ne Zha 2", which surpassed the popularity of the American "Inside Out 2". Currently, Hollywood productions make up only 5% of total box office revenues in China.
For about 30 years, China imported 10 Hollywood films annually. However, the National Film Administration (NFA) in Beijing announced on its website that Trump's tariffs will reduce domestic demand for American films in China.
It is uncertain whether China will screen productions whose premieres in the Middle Kingdom are already planned. Among them is a new Marvel production and another part of "Mission Impossible".
Trump administration strikes China
The Trump administration announced an increase in tariffs on Chinese goods to 145%, an increase from the previous 125%. The President also announced a reduction in tariffs for countries that do not take retaliatory actions against the United States.
