American China Tariff: ‘I have heard of worse things’: Trump reacts to China’s ban on Hollywood films after 145% tariff; ‘She is my friend’
President Donald Trump again expressed optimism that tariffs and counter-tariffs between the US and China would eventually reach a deal. As he addressed a cabinet meeting on Thursday amid trade war, Trump reiterated that he had great respect for Chinese President Xi Jinping. Trump said, “He is in a true sense, he is my friend for a long time, and I think we will do a great job for both countries.”
“We will see what happens to China. We would like to be able to make a deal. They have really taken advantage of our country for a long time,” said Trump.
The President also reacted to China’s decision to ban Hollywood films as he rejected it and said: “I think I have heard of worse things.”
US vs China Tariff War: China restrictions the imports of Hollywood films
China said on Thursday that it would immediately ban the imports of Hollywood films – it imports 10 Hollywood films per year. China’s national film administration said on its website, “We will follow the market rules, respect the choice of the audience and reduce the number of imported American films.”
Chris Fenton, ‘Feeding the Dragon: Inside the Trillion dollar, NBA, and a trillion dollar dilemma in front of the US business, said the move was a super high-profile method for China “to make a statement of vengeance with almost void.”
“Hollywood films have only 5 percent of the overall box office receipts in the Chinese market. And worse for Hollywood, China taxes stated that 50 percent lower amount before returning to any revenue,” Fenton told Reuters.
US-China tax: Where does it stand
The US increased China’s tariff by 145 percent, the White House clarified on Thursday. The 125% “mutual” tariff announced on China, President Donald Trump, comes at the top of 20% tariff yesterday, which was already in place. It was not clear yesterday whether tariffs were additive. The White House said that they are Thursday. Trump has stated that illegal immigration and 20% tariffs for the flow of Phantanel in the US, which they have accused China of playing a role. In addition, Trump increased the tariff on goods less than $ 800 from China as May 2.
China has not announced any other tariff after its final 84 percent. The ban on Hollywood films indicates that China will consider other ways to counter us in addition to tariffs.
