- The White House’s Trump tariffs continue to play with world economy
- China has retaliated with his tariffs of its own
- Experts say that this could have a serious impact on Hollywood movies
As Trump tariffs continue, experts predict they could have a huge impact on Hollywood movies – and not a good one.
Earlier this month, President Donald Trump revealed a slew of tariffs facing many of the world’s countries. These extra charges would impact all the companies looking to bring their goods and services into the United States.
Read more: Trump tariffs compared to Squid Game
Some of these came into play from 5 April, with the first round of Trump tariffs impacting countries like the United Kingdom and New Zealand. Meanwhile, the second batch is set to take effect from 9 April and impact what The White House calls its “worst offenders”.
These typically charge higher tariffs on American-made goods entering their countries and include places like China, Japan and Taiwan.
Read more: Trump imposes tariff on island only inhabited by penguins
The move has made some try to negotiate a better deal but China isn’t taking these tariffs lying down. Instead, they’ve set the scene for a trade war, threatening to impose a 34% retaliatory levy on the United States. If it goes ahead with its plan, Trump has said he’ll issue an additional 50% tariff.
That could mean US companies would face a 104% import tax on Chinese goods. If all this is making you want to lose yourself in fiction for a bit, you’ll be sad to discover that the news could impact Hollywood movies as well.
How? Well, let’s take a look…
How could the Trump Tariffs impact Hollywood?
The potential for a 104% tariff increase – and any retaliatory measures that follow – spells out difficulty for Hollywood. Primarily, it’ll mean it could lose access to the second-largest box-office source in the world.
According to Bloomberg (as per Deadline), other potential measures issued by China could include a reduction or ban on American film imports. This was first suggested by Liu Hong, a señor editor of Xinhuanet.
Bad news for upcoming releases
Hong shared his thoughts shortly before the Chinese government vowed to “fight to the end” regarding President Donald Trump’s tariff war.
The same prediction was echoed by Ren Yi, a Harvard-schooled expert and both messages cited unnamed sources close to the situation for the basis of this prediction.
This could set the scene for major box office dints to upcoming blockbusters like Mission Impossible – The Final Reckoning and James Gunn’s Superman reboot.
