Disney chief executive warns US-China trade war would be bad for business

Bob Iger was asked about President Donald Trump’s confrontational approach to China in an interview with CNBC

Bob Iger previously said the Shanghai park is as important for Disney today as the establishment of Walt Disney World in Florida was for the company in the sixties (Getty Images)

The chief executive of Disney has warned that a trade war between the US and China would be damaging for business.

Bob Iger was asked about President Donald Trump’s confrontational approach to China in an interview with CNBC.

“I don’t know that we know for sure what President Trump’s approach is,” Mr Iger said.

Mr Iger said the relationship between China and Disney is “really important” both from a movie perspective, a parks perspective and a consumer products perspective.

“An all-out trade war with China would be damaging, I think to Disney’s business and to business in general. It’s something we are going to have to be really careful about,” he added.

During his election campaign, President Trump threatened to impose punitive tariffs on China, Mexico and other nations he blames for the loss of US manufacturing jobs.

Mr Trump has also criticised China for manipulating its currency.

Mr Iger’s comments came as Disney reported overall sales unexpectedly falling to $14.8bn (£11.8bn) in the three months to the end of December. Analysts had forecast sales of $15.3bn.

During Mr Iger's 12 years at the helm of Disney, the company's shares have more than tripled in value, compared to roughly a doubling of the S&P 500, according to Reuters.