In the wake ofDonald Trump’s ongoing (and ludicrous) global trade war, the China Film Administration (CFA) has now confirmed some devastating news for Hollywood. Following speculation, China will now slash the number of American movies released in the nation following Trump’s decision to increase tariffs on the country to 125%. The CFA released the following statement in response to questions from reporters regarding whether the tariffs increase would impact imports of American movies in China.
“In response to a recent reporter’s question about whether the additional tariffs imposed by the United States on China will affect the import of American films, a spokesperson for the National Film Administration said that the wrong move by the US government to abuse tariffs on China will inevitably further reduce the domestic audience’s favorability towards American films.”
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Continuing, the statement reveals that China will now “moderately reduce” the number of movies from the United States released, while following market rules. This is sure to come as a major blow to Hollywood, as China has seen several big releases push box office returns into the stratosphere, with the likes of the MCU, James Cameron’sAvatarfranchise, theFast and Furiousseries, andthe recentA Minecraft Moviefinding huge success there. The statement continues:
“We will follow market rules, respect the audience’s choice, and moderately reduce the number of American films imported. China is the world’s second largest film market. We have always adhered to a high level of opening up to the outside world and will introduce more excellent films from the world to meet market demand.”
The Statement Took Theaters in China by Surprise
The global trade war waged by Donald Trump’s administration has come to a surprise pause, with the US President halting the tariff increase on everyone except China. Trump increased tariffs on China to a mammoth 125%, with the country hitting back with tariffs of 84% on U.S. goods. The statement from the CFA comes following reports and speculation thatChina was considering either a banor reduction in American movies being given theatrical releases.
According to THR, the previous trade agreement saw China “committed to releasing 34 foreign films per year under revenue-share terms, with overseas studios permitted to a 25 percent share of ticket sales.” The outlet also states that the sudden threat of reduction caught “many in the Chinese film industry, particularly local exhibitors, by surprise.” The change also puts imminent releases such as Disney and Marvel’s Thunderbolts in jeopardy. The report goes on to say that exhibitors are now “optimistically awaiting positive news about other upcoming U.S. releases, including Apple’s Brad Pitt starring racing movie F1.”
This change is sure to come as a blow to the U.S. and Chinabox office, as theaters in both nations and across the world continue to struggle following the COVID-19 pandemic, industry-wide strikes, and ongoing economic pressures.
