In just seven years, Netflix has revolutionized the television industry with its original content, Vulture's Josef Adalian reports.
The big picture, per Adalian: "Netflix doesn't want to be a streaming, supersized clone of HBO or FX or NBC. It's trying to change the way we watch television."
The big picture: Earlier Friday, the Ministry said in a separate statement that it would be retaliating with "the same scale and the same strength" to the Trump administration's new tariffs on $50 billion worth of Chinese goods. The tariffs, more of which will come at a later date, will focus on "agricultural products, automobiles, and aquatic products."
President Trump announced Friday that he's following through with his threats — the administration will begin implementing a 25% tariff on $50 billion of goods from China that contain industrially significant technologies.
One big thing: The statement also sent a warning that the U.S. will pursue additional tariffs if China retaliates with tariffs or punitive actions against American exporters or American companies operating in China. Go deeper: The list of goods targeted
President Trump approved around $50 billion worth of tariffs on Chinese goods after a meeting on Thursday, signaling the next move in the building trade war between the U.S. and China, the Wall Street Journal reports.
Why it matters: Chinese Foreign Minister Wang Yi said on Thursday that the two countries must decide between cooperation or confrontation, per the Journal, and while China "chooses the first...we have also made preparations to respond to the second kind of choice." It isn't clear when these tariffs would go into effect, the WSJ reports, but China has said it is ready to retaliate with its own tariffs in response.
