Chinese film regulators announced Thursday that they would “reduce moderately” the number of US films imported into the country, state media said. Chinese Film Government.
The decision resulted in President Donald Trump placing a 125% tariff on all Chinese goods imports, and Beijing retaliated with a “measure” and 84% tariff on US goods.
A spokesman for the Chinese Film Administration said the adjustment follows market principles and reflects audience preferences. This will affect Chinese audiences’ interest in US films, according to the official Newcomer news agency.
“We follow market laws, respect the choices of our audience and moderately reduce the number of imported US films,” the spokesman said.
As the world’s second largest film market, a spokesman for the Chinese Film Administration also highlighted China’s commitment to a high level of openness, highlighting the introduction of superior films from more countries to meet market demand.
According to the Hollywood Reporter, based on the latest trade agreement, China has pledged to release 34 foreign films per year on revenue share terms.
Exhibitors who were in touch with the Chinese Film Bureau told the Hollywood Reporter they were optimistic about positive news about other US releases, including the Brad Pitt Racing film.F1‘. The US Entertainment Outlet also said the Chinese film bureau had just been approved on Monday, according to sources.Thunderbolt“In the case of the theatrical release on April 30th, it is unclear whether Trump’s announcement will drive that release forward.
Even in Hollywood’s downsizing state in China, the film business is one of the sectors where the US maintains a significant trade surplus with its geopolitical rivals, as Chinese films have barely advanced with mainstream North American cinemas despite huge revenues in the home market, according to a Hollywood reporter.
Meanwhile, after Trump threatened more tariffs in China, Beijing said he didn’t want to fight trade and tariff wars, but would not flinch when he came. Lin Jiang, a spokesman for China’s Ministry of Foreign Affairs, was quoted by the state media as working on a press conference.
Trump placed a 90-day suspension on his tariffs in most other countries, but he did not expand it for China.
Beijing also contacted the European Union and ASEAN countries to build a united front and force the US to backtrack Tarif.
