China is reportedly considering banning the largest U.S. exports: Hollywood blockbusters in the middle
As Donald Trump’s unprovoked trade war on the world continues, countries are beginning to seek to respond in ways that erode the U.S. bottom line. According to the Hollywood Reporter, China is considering banning American-made movies and TV shows from the market, thus weakening the American cultural influence.
The report cites two influential media figures in China who apparently shared very similar reports at the same time. Liu Hong is a senior editor of the state-funded Xinhua News Agency and Ren Yi, the grandson of Ren Zhongyi, a leading online influencer and former Guangdong Party leader. Both show that in a series of retaliation measures, the Chinese government may take measures to deal with Trump’s tariffs, completely limiting the import of American movies.
Given that the Trump administration insists that the 104% tariff on China will take effect at midnight tonight, it is safe to assume that China will start studying its toolkit when it chooses how to respond. The country is also reportedly considering suspending its cooperation in handling fentanyl trafficking, raising tariffs on U.S. agricultural exports, and investigating the intellectual property rights of U.S. companies operating in China.
Hitting Hollywood is probably the most creative option on the table. So far, Hollywood has avoided too much tariff effort, partly because their output is considered a service rather than a benefit, thus saving them from fines. This is not to say that the industry is untouchable. The deadline report notes that tariffs raise many questions in overseas works, as some studios may choose to abandon shootings outside the United States to avoid possible Trump’s anger. Tariffs are almost certain to squeeze budgets, especially for those who rely on selling ads, as marketing tends to drop during recessions.
In recent years, China has moved from imported American blockbusters as it has built its own film industry that has raised significant box office gains. But when American movies enter the big screen, American movies still dominate globally. The very successful chaos is Minecraft Movies The weekend opened at the box office of China with the number one spot. American studios also try to showcase to Chinese audiences sometimes to attract excited American audiences, who make up the world’s second largest film market.
The entire deal with Trump with this trade war seems to be trying to calm the U.S. trade deficit with foreign countries – a misleading idea that often reflects a strong economy rather than some kind of “unfairness.” Suitable, it seems that he is going to tank to create one of the major trade surplus for the country, as Hollywood production companies produce more overseas than American foreign films.
