Trump’s Ban Order: Disney Warns against US-China Trade WarFeatured, Latest News, U.S./Canada, World News Wednesday, February 8th, 2017
BALTIMORE, MD (AFRICAN EXAMINER) – Following drop in its sales, Walt Disney’s Chief Executive, Bob Iger has warned against a trade war between the US and China, alarming the trend would spell doom for business.
The warning was against the background of the policies being pursued by US President Donald Trump which could set off a trade war between the two countries.
Similarly, Disney is concerned about the executive order by Mr. Trump barring migrants and refugees from seven Muslim countries.
Disney reported overall sales unexpectedly falling to $14.8bn (£11.8bn) in the three months to the end of December, which is 3 per cent lower than the same period a year ago.
The CEO said China was increasingly important for the firm’s movie and merchandise sales.
It was admitted that Disneyland Shanghai – its first theme park in mainland China – was one of its “biggest success stories in 2016.”
“An all-out trade war with China would be damaging to Disney’s business and to business in general,” Disney’s chief executive Iger warned.
“We cannot shut our borders to immigrants,” Disney boss restated.
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