China targets Hollywood films in retaliation of tariffs; Trump responds [FOX News]
Walt Disney Company (The) (DIS)
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Source: FOX News
Trump was asked about his reaction to China's latest move of targeting cultural exports from the U.S. on Thursday during a cabinet meeting. "I think I've heard of worse things," the president said, which was followed by a room full of laughter. Reuters reported that the financial impact would likely be minimal, according to industry experts, but mainly because box office returns have significantly declined in recent years in China For about 30 years, China imported 10 Hollywood movies annually. But the National Film Administration (NFA) in Beijing said on its website that Trump's tariffs would continue to sour its domestic demand for American movies in China. "We will follow market rules, respect the audience's choices, and moderately reduce the number of American films imported," the NFA said on its website. China was once looked to by Hollywood to help boost the box office performance of movies, since the former is the world's second-largest film market. China's domesti
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