China has announced that it will reduce imports of Hollywood films in response to the United States’ 'tariff bomb.'
According to China's state-run Xinhua News Agency on the 10th, the National Film Administration, which exercises film censorship and import licensing in China, published a statement on its website saying, "The U.S. government's wrongful imposition of tariffs on China will further lower domestic audiences' affinity for American films."
The National Film Administration noted, "The U.S. government's reckless enforcement of tariffs on China is a wrongful act that will further reduce domestic audiences' affinity for American films," adding, "We will take this action in respect of market principles and audience choices."
It further added, "China is the second-largest film market in the world and consistently upholds a high level of external openness, while introducing excellent films from various countries to meet market demand."
As a result, the release of Marvel's 'Thunderbolts' from the Disney subsidiary, which is confirmed to debut in China on the 30th, is highly likely to be canceled. According to the U.S. movie information site Dark Horizons, last year, American films generated $585 million (Hanwha 8540 billion won) in China, accounting for 3.5% of the Chinese box office.
In addition, China is reportedly preparing 'six major countermeasures' in response to the increased tariffs by the U.S., including a significant hike in tariffs on U.S. agricultural products, a ban on imports of poultry, investigations into intellectual property targeted at U.S. corporations with monopolistic status in China, and reductions or bans on U.S. film imports.