China’s National Film Administration says US movies will be less popular due to 145 percent tariff on Chinese imports.
China’s National Film Administration linked their decision on Thursday to US tariffs on Chinese products, which US President Donald Trump raised to a sky-high 145 percent.
According to the film administration, the US government’s move to use tariffs against China will reduce the audience’s favorability towards American films.
They have decided to follow market rules, respect audience choice, and reduce the number of American films imported.
It did not surprise observers who predicted China might target Hollywood in response to the increasing US tariffs.
China accepts 10 films annually from Hollywood; the Chinese market was considered a significant revenue source for the US movie industry.
Recently, the popularity of Western movies in China has declined, with Hollywood films representing just 5 percent of box office receipts, according to Chris Fenton, author of Feeding the Dragon: Inside the Trillion Dollar Dilemma Facing Hollywood, the NBA, and American Business.
Fenton stated that China’s punishment of Hollywood will likely be noticed by Washington due to the industry’s symbolic cultural power, calling it a “high-profile motion of strength” by Beijing.
The impact of the decision on upcoming movie releases like Paramount’s Mission Impossible – The Final Reckoning, Warner Brothers’ latest Superman movie, and another version of Marvel’s The Fantastic Four remains uncertain.
President Trump, who has faced criticism from many Hollywood celebrities for his policies, stated he wasn’t worried about China targeting the film industry, responding with “I think I’ve heard of worse things” when asked about it.
