Feb 8, 2017
Disney boss warns China trade war would be damaging
China is increasingly important for the firm's movie and merchandise sales. There are fears protectionist policies being pursued by US President Donald Trump could set off a trade war between the two countries. "An all-out trade war with China would be damaging to Disney's business and to business in general," Disney's chief executive Bob Iger told CNBC. He was also critical of an executive order signed by Mr Trump barring migrants and refugees from several Muslim countries. The comments came as Disney reported overall sales unexpectedly falling to $14.78bn in the three months to the end of December, which is 3% lower than the same period a year ago. Disney's shares initially dropped 2% in after hours trading.
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