Disney warns against China trade war as sales fall unexpectedly
Walt Disney chief executive Bob Iger has warned that a trade war with China brought about by US President Donald Trump's protectionist policies would negatively affect business.
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Theme park Disneyland Shanghai was opened in 2016 by the company, and the boss described it as one of the company's "biggest success stories" of the year.
Iger was speaking to CNBC after the publication of Disney's financial results for the quarter to December 2016.
"An all-out trade war with China would be damaging to Disney's business and to business in general. I think it's something we have to be careful about" Iger told CNBC.
Trump frequently attacked China's relationship with the US as an example of why he believed ecomomy was underperforming, and threatened a 45% tariff on imports from China.
Disney's fourth quarter saw the company's sales fall by an unexpected 3% to $14.8bn, sending its share price 2% lower in after-hours trading on 7 February.
The drop in sales was attributed to disappointing advertising revenues from its ESPN network and poor movie studio performance.
Earnings per share for Disney's Q4 were $1.55, a 10% drop in comparison with the same period in 2015, but higher than expectations from analysts, which was for $1.49 per share.