China may ban Hollywood movies after Trump ratchets up trade war, say report | World News

After the United States slapped punishing levies on China, with a 104 per cent tariff coming into effect on Wednesday, Beijing is considering a ban on Hollywood movies. Local authorities are planning this in response to US President Donald Trump’s reciprocal tariff levies, Bloomberg reported, quoting two influential Chinese bloggers.
According to sources, “reducing or banning the import of US films” and increasing tariffs on US agricultural goods and US services are among other countermeasures.
The American film industry has so far remained unscathed in the growing tit-for-tat measures announced between China and the US as theatrical film releases and streaming platforms are categorised under services instead of physical goods.
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But Hollywood’s luck in China may be running out if the report is to be believed.
In the face of the bruising trade war, markets around the world are paying the price. Asian markets sank again on Wednesday as the White House looked set to impose reciprocal US tariffs, including a massive 104 per cent levy on Chinese imports.
Japan’s Nikkei 225 index fell nearly 4 per cent in morning trade while markets in South Korea, New Zealand and Australia also declined, according to the Associated Press.
China’s blue chips slipped 1.2 per cent while Hong Kong’s Hang Seng index tumbled 3.1 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.7 per cent.
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