‘Have heard of worse things,’ says Donald Trump as China curbs Hollywood film imports

As a countermeasure to President Donald Trump's increase in tariffs on Chinese goods, China has announced a restriction on the import of Hollywood films. This strategic move targets one of America's most notable exports, but industry experts suggest the financial consequences for Hollywood will be minimal, given the waning box office returns in China over recent years. 

Trump too did appear too perturbed by the decision. Reacting to the decision, Trump said, "I think I’ve heard of worse things."

Further talking about Chinese President Xi Jinping, Trump said, “He's been, in a true sense, he’s been a friend of mine for a long period of time, and I think that we’ll end up working out something that’s very good for both countries. We’ll see what happens with China. We would love to be able to work a deal. They’ve really taken advantage of our country for a long period of time.”

For three decades, China has limited itself to importing ten Hollywood films annually, and recent developments have diminished the demand for American cinema further.

The National Film Administration of China conveyed that they will "follow market rules, respect the audience's choices, and moderately reduce the number of American films imported." 

Hollywood studios once eyed China, the world's second-largest film market, to boost their films' box office performance. However, local productions have increasingly overshadowed Hollywood offerings.

Hollywood films only account for 5 per cent of China's overall box office receipts, with studios receiving a mere 25 per cent of ticket sales in China, compared to more favourable percentages in other markets.

Major Hollywood blockbusters, however, may continue to be screened in China. Disney's "Thunderbolts", for instance, is set for release in China on April 30th.