NEWS AGENCY OF NIGERIA
Hollywood jitters over U.S.-China tariff war

Hollywood jitters over U.S.-China tariff war

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By Kamal Tayo Oropo

The U.S.-China tariff war may now be casting a shadow over Hollywood, according to He Beiping, a Chinese journalist based in Nigeria.

Beiping’s opinion is contained in a piece made available to the News Agency of Nigeria (NAN) on Sunday.

Beiping expressed concerns about China’s declining interest in American film imports.

He noted that during Spanish Prime Minister Pedro Sánchez’s recent visit to China, both countries signed a film cooperation agreement.

According to him, the deal aims to deepen cultural and industry ties through festivals, screenings, co-productions and professional exchanges.

“This signals China’s pivot towards broader cinematic partnerships beyond traditional U.S. collaborations.

“China, as the world’s second-largest film market, remains a crucial audience for global content creators.

“Yet, rising U.S. tariffs have triggered strategic pushback from Beijing,” he explained.

He stated that China’s National Film Administration has pledged to “moderately reduce the number of American films imported”.

“This announcement has unsettled Hollywood, with shares in studios like Disney and Warner Bros Discovery falling sharply.

“The tariff moves casts uncertainty over future U.S.-China film projects and market access.

“Still, China continues to reward high-quality international content at the box office,” he said.

Beiping emphasised that strong demand remains, provided partnerships are fair and mutually beneficial.

He pointed out an imbalance: U.S. service exports to China have surged over sevenfold since 2001.

According to him, Washington’s tariff policies risk harming its own success in key service sectors like film and technology.

NAN recalls that European Commission President Ursula von der Leyen has also warned of possible counter-measures.

These include potential restrictions on U.S. tech firms, suggesting wider economic consequences.

Beiping noted that America’s surplus with Europe relies heavily on technology services.

He argued that such threats reflect a growing instability driven by short-term trade decisions.

“Meanwhile, China is embracing openness,” he said, referencing the recent deal with Spain.

That agreement reflects a multilateral approach to creative exchange and global trade.

“This model, based on mutual gain, could raise standards and enrich global audiences,” he said.

Beiping added that the era of American unilateral dominance is ending, replaced by a multipolar world of shared opportunity. (NAN) 

Edited by Polycarp Auta

Implementing SAPZs ‘ll create jobs, slash imports, boost naira — Adesina

Implementing SAPZs ‘ll create jobs, slash imports, boost naira — Adesina

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By Lucy Ogalue

Dr Akinwumi Adesina, the African Development Bank’s President, says implementation of the Special Agro-Industrial Processing Zones (SAPZs) in Nigeria will reduce food imports, strengthen the Naira, and generate millions of jobs.

Adesina stated this on Thursday in Calabar, Cross River, at the groundbreaking of the SAPZ project on Thursday in Calabar.

He described it as a transformative initiative that would unlock the economic potential of Nigeria’s agricultural sector.

The AfDB president said for Nigeria to thrive, its rural areas must be awakened.

He said the country should not be importing food with its abundant arable land, cheap labour, and vast agro-ecological zones.

Nigeria should be completely self-sufficient in food and a significant exporter of food and agricultural commodities.

“By taking advantage of the special agro-industrial processing zones, Nigeria will now have the infrastructure and industrial platform to transform all its food and agricultural commodities.

“What a day we are celebrating today. The special agro-industrial processing zones will reduce food imports, conserve foreign exchange, expand production and processing of food and agricultural commodities.

“It will strengthen the Naira and attract significant private investment in agricultural value chains.

“The SAPCs will also revive and transform rural economies and create millions of jobs,” he said

Adesina commended the Federal Government for its commitment and strong political will under President Bola Tinubu, which he said had been pivotal to the rollout of the zones across multiple states.

He also lauded Vice President Kashim Shettima, for his consistent presence and unwavering support of the project.

“You have been the promoter, the facilitator, and the enabler of this vision. Your commitment speaks volumes,” he said.

The AfDB president reiterated that a financing package of $510 million had been secured for the first phase of the SAPZ programme in eight states and the Federal Capital Territory.

He said plans were underway to expand to 28 states in the second phase, backed by $2.2 billion from development partners.

Cross River State Governor, Sen. Bassey Otu, reaffirmed his administration’s commitment to harnessing the state’s vast agricultural potential to drive economic diversification and job creation.

“Our plan is to move from a non-renewable resource base to a sustainable agricultural economy that brings prosperity to every part of Cross River State,” Otu said.

He said the state would leverage its comparative advantage in the production of cocoa, palm oil, rice, and banana.

He said the state would also take advantage of its infrastructure, including the proposed Bakassi Deep Sea Port, Obudu Cargo Airport, and Calabar-Budu rail line, to support agro-industrialisation.

Vice President Shettima, in his remarks, reaffirmed the administration’s resolve to implement policies that would ensure food security, economic growth, and inclusive development.

Other dignitaries at the event included the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, other government officials, senior officials from the AfDB and development partners and stakeholders.

The SAPZ programme is spearheaded by the AfDB in partnership with the Islamic Development Bank and the International Fund for Agricultural Development, and the government. (NAN)

Edited by Chinyere Joel-Nwokeoma

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