"/>

    Spotlight: President Trump's trade tariffs have Hollywood seeing red

    Source: Xinhua    2018-04-02 03:37:58

    By Julia Pierrepont III

    LOS ANGELES, April 1 (Xinhua) -- Adding to Hollywood's #MeToo and #TimesUp woes, President Donald Trump threw gasoline on the fire when he announced trade tariffs against China last month that may have serious unintended consequences on Hollywood's bottom line.

    Hollywood financing executive, Todd Shoemack, expressed his concerns.

    "Trump puts zero thought or research into his decrees. Without consulting his own trade experts, he fires off these policy changes without considering the consequences, as if they're no more important than his infamous midnight tweets," he told Xinhua Friday.

    But he was one of the only Hollywood insiders willing to speak on the record, since Hollywood is too nervous to talk to the press, which is really saying something. Few other studio executives wanted to stick their necks out for fear of reprisals.

    When asked for a reaction to Trump's tariffs by Xinhua, both NBC Universal and MGM responded with a resounding, "No comment," while other studios ducked the question all together.

    Not surprisingly, Fox had no concerns about Trump' s radical approach.

    "What has happened there (at Fox) in the last two years is somewhat shocking frankly," said CNN head, Jeff Zucker, to the Financial Times. "It really is state-run TV. It is a pure propaganda machine and I think it does an incredible disservice to this country.

    Commerce Secretary Wilbur Ross told CNBC, "We're an administration that believes in objectives. We never would have gotten where we are now without tariffs."

    But, as markets tumbled, Bloomberg expressed their concerns over escalation, "President Donald Trump's push to rebalance global trade in America's favor has investors on edge, as his threats to impose import tariffs and curb foreign investment raise the specter of retaliation that could spark a global trade war."

    "The backlash on Hollywood could be severe," Shoemack worried, "From both China and Trump. We're negotiating new quotas with China even as we speak - that's all up in the air now. And Trump is infamous for using his power to get even with his detractors and he hates Hollywood. Strangely, that might actually work in Hollywood's favor with the Chinese."

    As financial markets react adversely to Trump's announcements and China's reaction, Hollywood has much to lose if a trade war scuttles the progress they've made in recent trade negotiations with China.

    Many industry pundits estimate that China will overtake the U.S. as the largest film market by 2020.

    Since last February, U.S. trade representatives have been in prolonged talks with their Chinese counterparts to hammer out a deal to expand the current quota of foreign films, primarily Hollywood blockbusters, that are allowed to screen in China. This new scuffle between the two trade giants may put those key talks in jeopardy.

    Currently, 34 foreign films are allowed into Chinese theaters on a revenue-sharing basis of which foreign producers receive 25 percent of the total producer profits, after exhibition and distribution splits.

    Another three dozen or so foreign pics are allowed in on a straight territorial licensing fee basis, which are typically released via video-on-demand or online streaming channels.

    Prior to the latest saber-rattling by the White House, China had been signaling a willingness to ease up on the quotas, potentially increase foreigner's box office split, and do away with black-out periods during which only Chinese movies can be screened.

    Since demand for movies is so high in China, particularly in 3rd and 4th tier cities where other forms of entertainment can be scarce, these moves had been seen as a potential win-win which would fill China' s the growing number of exhibition slots and enhance revenues for their theater chains as well.

    Hopes had also been high that more Chinese companies might be allowed to distribute foreign films in China, opening up the industry to market forces, and that Hollywood studios might be granted a say in the release dates of their pictures.

    But recent developments have left analysts and Hollywood execs increasingly pessimistic.

    Derek Scissors, resident scholar at the American Enterprise Institute expressed his concern to Variety. "Film quotas are exactly the kind of target the Chinese would threaten in response to these tariffs," he revealed.

    "The tariffs will not especially harm China, but they will want to deter further action. While attention focuses on soybeans and the like, China prefers smaller but high-profile targets," he warned.

    One could hardly find a more high profile target than the motion picture industry, which receives the lion's share of attention from fans and social media all over the world.

    Escalating trade tensions with China can only hurt Hollywood's bottom line, due to it's increasing dependence on a territory whose box office has grown from a modest 1.47 billion U.S. dollars in 2010 to a whopping 8.6 billion U.S. dollars in just seven years, an exponential growth of nearly 600 percent.

    But the outlook is not all doom and gloom.

    High profile Hollywood attorney, Lindsay Conner, Co-Chair of the Entertainment and Media practice of Manatt, Phelps & Philips and advisor to the Universal-Perfect World 50-pic state deal, also sounded a more optimistic note in a recent interview with Variety, when he postulated that China's measured response to Trump' s trade tariffs might bode well for Hollywood.

    "There will inevitably be ups and downs in the broad relationship of the two nations," he advised, "But the mutual stake that Hollywood and China have in the entertainment industry will continue for a long time to come."

    Editor: Yurou
    Related News
    Xinhuanet

    Spotlight: President Trump's trade tariffs have Hollywood seeing red

    Source: Xinhua 2018-04-02 03:37:58

    By Julia Pierrepont III

    LOS ANGELES, April 1 (Xinhua) -- Adding to Hollywood's #MeToo and #TimesUp woes, President Donald Trump threw gasoline on the fire when he announced trade tariffs against China last month that may have serious unintended consequences on Hollywood's bottom line.

    Hollywood financing executive, Todd Shoemack, expressed his concerns.

    "Trump puts zero thought or research into his decrees. Without consulting his own trade experts, he fires off these policy changes without considering the consequences, as if they're no more important than his infamous midnight tweets," he told Xinhua Friday.

    But he was one of the only Hollywood insiders willing to speak on the record, since Hollywood is too nervous to talk to the press, which is really saying something. Few other studio executives wanted to stick their necks out for fear of reprisals.

    When asked for a reaction to Trump's tariffs by Xinhua, both NBC Universal and MGM responded with a resounding, "No comment," while other studios ducked the question all together.

    Not surprisingly, Fox had no concerns about Trump' s radical approach.

    "What has happened there (at Fox) in the last two years is somewhat shocking frankly," said CNN head, Jeff Zucker, to the Financial Times. "It really is state-run TV. It is a pure propaganda machine and I think it does an incredible disservice to this country.

    Commerce Secretary Wilbur Ross told CNBC, "We're an administration that believes in objectives. We never would have gotten where we are now without tariffs."

    But, as markets tumbled, Bloomberg expressed their concerns over escalation, "President Donald Trump's push to rebalance global trade in America's favor has investors on edge, as his threats to impose import tariffs and curb foreign investment raise the specter of retaliation that could spark a global trade war."

    "The backlash on Hollywood could be severe," Shoemack worried, "From both China and Trump. We're negotiating new quotas with China even as we speak - that's all up in the air now. And Trump is infamous for using his power to get even with his detractors and he hates Hollywood. Strangely, that might actually work in Hollywood's favor with the Chinese."

    As financial markets react adversely to Trump's announcements and China's reaction, Hollywood has much to lose if a trade war scuttles the progress they've made in recent trade negotiations with China.

    Many industry pundits estimate that China will overtake the U.S. as the largest film market by 2020.

    Since last February, U.S. trade representatives have been in prolonged talks with their Chinese counterparts to hammer out a deal to expand the current quota of foreign films, primarily Hollywood blockbusters, that are allowed to screen in China. This new scuffle between the two trade giants may put those key talks in jeopardy.

    Currently, 34 foreign films are allowed into Chinese theaters on a revenue-sharing basis of which foreign producers receive 25 percent of the total producer profits, after exhibition and distribution splits.

    Another three dozen or so foreign pics are allowed in on a straight territorial licensing fee basis, which are typically released via video-on-demand or online streaming channels.

    Prior to the latest saber-rattling by the White House, China had been signaling a willingness to ease up on the quotas, potentially increase foreigner's box office split, and do away with black-out periods during which only Chinese movies can be screened.

    Since demand for movies is so high in China, particularly in 3rd and 4th tier cities where other forms of entertainment can be scarce, these moves had been seen as a potential win-win which would fill China' s the growing number of exhibition slots and enhance revenues for their theater chains as well.

    Hopes had also been high that more Chinese companies might be allowed to distribute foreign films in China, opening up the industry to market forces, and that Hollywood studios might be granted a say in the release dates of their pictures.

    But recent developments have left analysts and Hollywood execs increasingly pessimistic.

    Derek Scissors, resident scholar at the American Enterprise Institute expressed his concern to Variety. "Film quotas are exactly the kind of target the Chinese would threaten in response to these tariffs," he revealed.

    "The tariffs will not especially harm China, but they will want to deter further action. While attention focuses on soybeans and the like, China prefers smaller but high-profile targets," he warned.

    One could hardly find a more high profile target than the motion picture industry, which receives the lion's share of attention from fans and social media all over the world.

    Escalating trade tensions with China can only hurt Hollywood's bottom line, due to it's increasing dependence on a territory whose box office has grown from a modest 1.47 billion U.S. dollars in 2010 to a whopping 8.6 billion U.S. dollars in just seven years, an exponential growth of nearly 600 percent.

    But the outlook is not all doom and gloom.

    High profile Hollywood attorney, Lindsay Conner, Co-Chair of the Entertainment and Media practice of Manatt, Phelps & Philips and advisor to the Universal-Perfect World 50-pic state deal, also sounded a more optimistic note in a recent interview with Variety, when he postulated that China's measured response to Trump' s trade tariffs might bode well for Hollywood.

    "There will inevitably be ups and downs in the broad relationship of the two nations," he advised, "But the mutual stake that Hollywood and China have in the entertainment industry will continue for a long time to come."

    [Editor: huaxia]
    010020070750000000000000011100001370813981
    主站蜘蛛池模板: 国产麻豆剧果冻传媒一区| 日韩在线一区视频| 四虎影视1515hh四虎免费| 3751色视频| 成人性生交大片免费看| 亚洲国产小视频| 精品亚洲麻豆1区2区3区| 国产成人久久精品区一区二区| 97视频精品全国在线观看| 成人片黄网站色大片免费| 五月天国产视频| 潦草影视2021手机| 另类小说图片综合网| 97视频免费在线| 国产老妇一性一交一乱| 一个人看的免费视频www在线高清动漫| 日美欧韩一区二去三区| 亚洲国产精品久久人人爱| 理论片午午伦夜理片影院99| 国产XXX69麻豆国语对白| 久久福利视频导航| 国产色在线|亚洲| www.99re| 我要看黄色一级毛片| 久久精品成人一区二区三区| 欧美日韩中文字幕在线视频| 你是我的城池营垒免费观看完整版 | 亚洲国产精品综合久久网络| 疯狂吃奶freesex| 嗯!啊!使劲用力在线观看| 香蕉视频在线看| 国产精品v欧美精品∨日韩| 97色伦综合在线欧美视频| 好紧我太爽了再快点视频 | 精品免费人成视频APP| 国产乱子伦精品无码专区| 国产香蕉在线精彩视频| 国产精品无码一区二区在线观一| 99在线热视频| 女房东用丝袜脚夹我好爽漫画| 中文字幕人妻无码一夲道|