China raises retaliatory levies on U.S. goods to 125% as dollar sinks
China says it will reduce imports of American films in retaliation for the U.S. slapping tariffs on its goods. The move targets one of the United States’ most influential export industries.
China, the world’s second-biggest box office after the U.S., has long had an annual quota on the number of foreign films that can be screened in its theaters. Hollywood films have also fared less well with Chinese moviegoers in recent years amid rising U.S.-China tensions and a maturing Chinese film industry.
“The U.S. government’s erroneous imposition of tariffs on China is bound to further reduce domestic audiences’ favorable perception of American films,” the China Film Administration said in a statement yesterday.
The statement added that the number of American films imported would be “moderately reduced,” but did not specify the extent of the cut.
The impact on the U.S. box office may be limited. China contributed only 5% to Hollywood’s global box office revenue in 2024, according to Film Threat chief editor Alan Ng.
A total of 39 American films were released in Chinese theaters in 2024, accounting for about 15% of the country’s total box office revenue. Local media cited industry analysts who estimate that only 10 to 20 U.S. movies will be imported into China this year.
