China cuts back on Hollywood imports amid Trump tariff war
The Chinese Film Administration plans to reduce the number of Hollywood films imported into the country. This action is a response to the trade war initiated by Donald Trump. According to Beijing, the trade war will "negatively" impact the reception of American productions, reports the "South China Morning Post."
"We will follow the market rules, respect the audience’s choice, and moderately reduce the number of American films imported," the Chinese Film Administration stated on Thursday.
Chinese filmmakers argue that "the US government’s erroneous practice of imposing excessive tariffs on China is likely to further diminish the Chinese audience’s favorable perception of American films," the statement reads.
As reported by "The Hollywood Reporter," China had agreed to screen 34 foreign films annually, with foreign studios receiving a 25% share of ticket sales. Beijing's decision caught some representatives of the Chinese film industry by surprise. Just a few days ago, the distribution of the film "Thunderbolts*" from the Marvel universe was approved. The premiere was scheduled for April 30th, but it is now uncertain if it will proceed as planned.
American media emphasize that Hollywood productions are not as popular in China as they used to be. Nonetheless, some films can still achieve significant success. An example is "Avatar: The Way of Water" by James Cameron, which grossed $246 million in China.
Trump raises tariffs
According to the latest findings, U.S. tariffs on China currently stand at 145%, which includes a 125% rate covering so-called reciprocal tariffs, in addition to tariffs imposed in response to Chinese retaliatory tariffs. The tariffs on Beijing also include a 20% rate imposed by Trump earlier this year for alleged fentanyl smuggling.
Experts say the situation has escalated from a skirmish between Washington and Beijing to a "total trade war."
