Treasury Secretary Steven Mnuchin says he expects tariffs to go up in December if there is no China deal

Treasury Secretary Steven Mnuchin told CNBC on Monday he expects the mid-December round of tariffs on Chinese goods to take effect if no deal is reached between the two economic superpowers. “I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said on CNBC’s “Squawk Box.” Mnuchin said the U.S. expects China to buy $40 billion to $50 billion worth of agriculture products. In the Oval Office on Friday, Mnuchin said the White Hous


Treasury Secretary Steven Mnuchin told CNBC on Monday he expects the mid-December round of tariffs on Chinese goods to take effect if no deal is reached between the two economic superpowers. “I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said on CNBC’s “Squawk Box.” Mnuchin said the U.S. expects China to buy $40 billion to $50 billion worth of agriculture products. In the Oval Office on Friday, Mnuchin said the White Hous
Treasury Secretary Steven Mnuchin says he expects tariffs to go up in December if there is no China deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin breuninger
Keywords: news, cnbc, companies, china, steven, mnuchin, deal, expects, trump, round, treasury, secretary, tariffs, president, deadline, tariff


Treasury Secretary Steven Mnuchin says he expects tariffs to go up in December if there is no China deal

Treasury Secretary Steven Mnuchin told CNBC on Monday he expects the mid-December round of tariffs on Chinese goods to take effect if no deal is reached between the two economic superpowers.

“I have every expectation if there’s not a deal those tariffs would go in place, but I expect we’ll have a deal,” Mnuchin said on CNBC’s “Squawk Box.”

Mnuchin’s commitment to keeping tariffs on the table comes days after President Donald Trump announced a “fundamental agreement in principle” for a “phase one deal” following a round of renewed high-level negotiations with Beijing in Washington.

The two countries addressed intellectual property rights, financial services — including currency and foreign exchange — and “very significant structural issues” dealing with agriculture, a key sticking point in the tit-for-tat tariff battle, Mnuchin said.

Mnuchin said the U.S. expects China to buy $40 billion to $50 billion worth of agriculture products. He also said that China will be removing some tariffs on imports of U.S. goods.

Trump, in an all-caps tweet Sunday evening, exclaimed, “CHINA HAS ALREADY BEGUN AGRICULTURAL PURCHASES FROM OUR GREAT PATRIOT FARMERS & RANCHERS!”

In the Oval Office on Friday, Mnuchin said the White House would hold off on Tuesday’s deadline to impose more tariffs on China. The next tariff deadline is Dec. 15.

But he expects that, pending more meetings with Beijing officials, Trump and Chinese President Xi Jinping will be able to finish the deal during their anticipated meeting in Chile in a few weeks.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: kevin breuninger
Keywords: news, cnbc, companies, china, steven, mnuchin, deal, expects, trump, round, treasury, secretary, tariffs, president, deadline, tariff


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Treasury Secretary Mnuchin says libra backers dropped out because the project is ‘not ready’ to meet regulatory standards

After six corporate backers of Facebook’s libra cryptocurrency dropped out of the project, Treasury Secretary Steven Mnuchin said Monday he thinks those companies may have feared government enforcement action. Visa, Mastercard, Stripe, eBay and Mercado Pago all announced they no longer intended to participate in the program, which originally had 28 corporate backers. Lawmakers were still left with questions after libra project lead David Marcus testified in July. Facebook, libra and the five oth


After six corporate backers of Facebook’s libra cryptocurrency dropped out of the project, Treasury Secretary Steven Mnuchin said Monday he thinks those companies may have feared government enforcement action. Visa, Mastercard, Stripe, eBay and Mercado Pago all announced they no longer intended to participate in the program, which originally had 28 corporate backers. Lawmakers were still left with questions after libra project lead David Marcus testified in July. Facebook, libra and the five oth
Treasury Secretary Mnuchin says libra backers dropped out because the project is ‘not ready’ to meet regulatory standards Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: lauren feiner
Keywords: news, cnbc, companies, regulatory, meet, steven, mnuchin, backers, treasury, secretary, ready, libra, standards, dropped, facebook, corporate, interview, project


Treasury Secretary Mnuchin says libra backers dropped out because the project is 'not ready' to meet regulatory standards

Secretary of the Treasury Steven Mnuchin answers questions from the press after an interview on CNBC on the North Lawn of the White House in Washington, September 12, 2019. REUTERS/Sarah Silbiger.

After six corporate backers of Facebook’s libra cryptocurrency dropped out of the project, Treasury Secretary Steven Mnuchin said Monday he thinks those companies may have feared government enforcement action.

In an interview on CNBC’s “Squawk Box,” Mnuchin said he met with libra representatives on multiple occasions and has been “very clear … that if they don’t meet … our money-laundering standards and the standards that we have at [Financial Crimes Enforcement Network] that we would take enforcement actions against them. And I think they realized that they’re not ready, they’re not up to par. And I assume some of the partners got concerned and dropped out until they meet those standards.”

On Friday, five more corporate backers joined PayPal in exiting the Libra Association, the nonprofit developed to govern the new cryptocurrency envisioned by Facebook. Visa, Mastercard, Stripe, eBay and Mercado Pago all announced they no longer intended to participate in the program, which originally had 28 corporate backers. The loss of five payments companies could be a particularly large blow to the project, which is already facing scrutiny from governments around the world. The announcements came before the first Libra Association Council meeting in Geneva on Monday.

Officials at the Treasury Department are not the only ones looking closely at libra. The House Financial Services Committee has called on Facebook CEO Mark Zuckerberg to testify on Oct. 23, his first time returning for an open congressional testimony since 2018, when he discussed the Cambridge Analytica scandal. Lawmakers were still left with questions after libra project lead David Marcus testified in July. Several representatives encouraged Facebook to abandon its plans until sufficient regulatory mechanisms were in place, but Facebook has not made such a firm commitment, though it said it does plan to address concerns from lawmakers.

Reached for comment, a Visa spokesperson pointed to the company’s statement on Friday announcing that it would no longer join the Libra Association. In the statement, the spokesperson said, ‘We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations.”

Facebook, libra and the five other former corporate backers did not immediately respond to requests for comment.

Subscribe to CNBC on YouTube.

Watch: CNBC’s full interview with Secretary Steven Mnuchin on China trade progress


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: lauren feiner
Keywords: news, cnbc, companies, regulatory, meet, steven, mnuchin, backers, treasury, secretary, ready, libra, standards, dropped, facebook, corporate, interview, project


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Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria

Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria9 Hours AgoVice President Mike Pence and Treasury Secretary Steven Mnuchin discuss meetings at the White House about the Turkish invasion of Syria and its attack on Kurdish rebels there.


Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria9 Hours AgoVice President Mike Pence and Treasury Secretary Steven Mnuchin discuss meetings at the White House about the Turkish invasion of Syria and its attack on Kurdish rebels there.
Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14
Keywords: news, cnbc, companies, erdogan, white, trump, end, wanted, syria9, incursion, told, treasury, steven, immediate, turkish, syria, pence


Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria

Pence: Trump told Erdogan he wanted immediate end to Turkish incursion into Syria

9 Hours Ago

Vice President Mike Pence and Treasury Secretary Steven Mnuchin discuss meetings at the White House about the Turkish invasion of Syria and its attack on Kurdish rebels there.


Company: cnbc, Activity: cnbc, Date: 2019-10-14
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White House to host meeting with tech executives on Huawei ban

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019. U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday. The United States placed Huawei on the Commerce Department’s so-called Entity


U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019. U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday. The United States placed Huawei on the Commerce Department’s so-called Entity
White House to host meeting with tech executives on Huawei ban Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: spencer kimball
Keywords: news, cnbc, companies, host, secretary, white, house, united, executives, meeting, tech, ban, steven, states, sources, huawei, companies, treasury


White House to host meeting with tech executives on Huawei ban

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, U.S., July 15, 2019.

U.S. officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and software executives to discuss the U.S. ban on Huawei Technologies, two sources briefed on the meeting said on Friday.

The United States placed Huawei on the Commerce Department’s so-called Entity List in May over national security concerns. U.S. parts and components generally cannot be sold to those on the list without special licenses.

However, U.S. President Donald Trump, who is seeking to revive trade talks with China, announced late last month that U.S. companies would be allowed to sell products to Huawei.

The White House did not immediately comment on the meeting.

One of the sources said invited companies included chipmakers Intel, Micron Technology, Qualcomm and Broadcom. Microsoft was also invited.

Intel and Qualcomm declined to comment.

The United States may approve licenses for companies to restart new sales to Huawei in as little as two weeks, a senior U.S. official said last week.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: spencer kimball
Keywords: news, cnbc, companies, host, secretary, white, house, united, executives, meeting, tech, ban, steven, states, sources, huawei, companies, treasury


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Mnuchin says White House and Congress are ‘getting closer’ to a deal to raise the debt ceiling

US Treasury Secretary Steven Mnuchin speaks on regulatory issues associated with crypto currency in the briefing room at the White House in Washington, DC, on July 15, 2019. U.S. Secretary Steven Mnuchin said on Monday the administration and Congress are getting close to a deal on raising the U.S. debt ceiling and he has urged lawmakers to take action on the issue before their August recess. “I think there is a preference on both parties, to the extent that we can agree on the debt ceiling and a


US Treasury Secretary Steven Mnuchin speaks on regulatory issues associated with crypto currency in the briefing room at the White House in Washington, DC, on July 15, 2019. U.S. Secretary Steven Mnuchin said on Monday the administration and Congress are getting close to a deal on raising the U.S. debt ceiling and he has urged lawmakers to take action on the issue before their August recess. “I think there is a preference on both parties, to the extent that we can agree on the debt ceiling and a
Mnuchin says White House and Congress are ‘getting closer’ to a deal to raise the debt ceiling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: kate rooney
Keywords: news, cnbc, companies, debt, deal, closer, white, getting, issues, steven, raise, ceiling, secretary, lawmakers, mnuchin, congress, think, house


Mnuchin says White House and Congress are 'getting closer' to a deal to raise the debt ceiling

US Treasury Secretary Steven Mnuchin speaks on regulatory issues associated with crypto currency in the briefing room at the White House in Washington, DC, on July 15, 2019.

U.S. Secretary Steven Mnuchin said on Monday the administration and Congress are getting close to a deal on raising the U.S. debt ceiling and he has urged lawmakers to take action on the issue before their August recess.

“I think there is a preference on both parties, to the extent that we can agree on the debt ceiling and a budget deal, that that is the first choice, and I think that we’re getting closer,” Mnuchin told reporters during a briefing at the White House.

Mnuchin said that if a deal on all of the issues were not reached before lawmakers were scheduled to take off, they should either stay put or approve an increase in the debt ceiling on its own.

“I think we’re very close to a deal, but as you know, these deals are complicated,” he said. “I’m very hopeful we can come to … an agreement quickly, but having said that, if for whatever reason we cannot agree on all these issues before they leave, I would either expect them to stick around or raise the debt ceiling.”

Mnuchin said he was not concerned about the prospect of a government shutdown related to the budget discussions.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: kate rooney
Keywords: news, cnbc, companies, debt, deal, closer, white, getting, issues, steven, raise, ceiling, secretary, lawmakers, mnuchin, congress, think, house


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House Committee sues Treasury for Trump tax returns

US President Donald Trump and Treasury Secretary Steven Mnuchin (L) speaks during a tour of the H&K Equipment Company in Coraopolis, Pennsylvania on January 18, 2018. The House Ways and Means Committee on Tuesday sued the Treasury Department and the IRS to get President Donald Trump’s tax returns, a spokesman for a committee member told CNBC on Tuesday. The legal action shows the Democrat-led panel following through on its threat from months earlier, when Treasury Secretary Steven Mnuchin and IR


US President Donald Trump and Treasury Secretary Steven Mnuchin (L) speaks during a tour of the H&K Equipment Company in Coraopolis, Pennsylvania on January 18, 2018. The House Ways and Means Committee on Tuesday sued the Treasury Department and the IRS to get President Donald Trump’s tax returns, a spokesman for a committee member told CNBC on Tuesday. The legal action shows the Democrat-led panel following through on its threat from months earlier, when Treasury Secretary Steven Mnuchin and IR
House Committee sues Treasury for Trump tax returns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, president, request, steven, irs, committee, house, tax, treasury, sues, trump, returns, mnuchin, trumps


House Committee sues Treasury for Trump tax returns

US President Donald Trump and Treasury Secretary Steven Mnuchin (L) speaks during a tour of the H&K Equipment Company in Coraopolis, Pennsylvania on January 18, 2018.

The House Ways and Means Committee on Tuesday sued the Treasury Department and the IRS to get President Donald Trump’s tax returns, a spokesman for a committee member told CNBC on Tuesday.

The legal action shows the Democrat-led panel following through on its threat from months earlier, when Treasury Secretary Steven Mnuchin and IRS chief Charles Rettig defied subpoenas to hand over six years of Trump’s personal and business returns. Mnuchin had argued that the committee had no “legitimate legislative purpose” to request the president’s federal tax returns.

The legal complaint in U.S. District Court in Washington, D.C., says that Mnuchin, Rettig and their departments “have now — for what the Committee believes is the first time ever — denied a Section 6103(f) request in order to shield President Trump’s tax return information from Congressional scrutiny.”

That section of the federal tax code clearly states that the Treasury “shall furnish” an individual’s returns if a formal written request is made, Democrats argue.

“In refusing to comply with the statute, Defendants have mounted an extraordinary attack on the authority of Congress to obtain information needed to conduct oversight of Treasury, the IRS, and the tax laws on behalf of the American people who participate in the Nation’s voluntary tax system,” the complaint says.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: kevin breuninger
Keywords: news, cnbc, companies, president, request, steven, irs, committee, house, tax, treasury, sues, trump, returns, mnuchin, trumps


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Digital taxes in the UK and France are ‘discriminatory’ toward US firms: Mnuchin

Digital taxes in the UK and France are ‘discriminatory’ toward US firms: Mnuchin23 Hours AgoU.S. Treasury Secretary Steven Mnuchin says Washington is looking for a “broad solution” to digital taxes that will be supported by the Organization for Economic Co-operation and Development.


Digital taxes in the UK and France are ‘discriminatory’ toward US firms: Mnuchin23 Hours AgoU.S. Treasury Secretary Steven Mnuchin says Washington is looking for a “broad solution” to digital taxes that will be supported by the Organization for Economic Co-operation and Development.
Digital taxes in the UK and France are ‘discriminatory’ toward US firms: Mnuchin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10
Keywords: news, cnbc, companies, taxes, france, steven, firms, uk, digital, washington, supported, mnuchin, discriminatory, treasury, organization, secretary, solution


Digital taxes in the UK and France are 'discriminatory' toward US firms: Mnuchin

Digital taxes in the UK and France are ‘discriminatory’ toward US firms: Mnuchin

23 Hours Ago

U.S. Treasury Secretary Steven Mnuchin says Washington is looking for a “broad solution” to digital taxes that will be supported by the Organization for Economic Co-operation and Development.


Company: cnbc, Activity: cnbc, Date: 2019-06-10
Keywords: news, cnbc, companies, taxes, france, steven, firms, uk, digital, washington, supported, mnuchin, discriminatory, treasury, organization, secretary, solution


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Huawei issues are ‘separate from trade,’ US Treasury Secretary says

Huawei issues are ‘separate from trade,’ US Treasury Secretary says20 Hours AgoU.S. Treasury Secretary Steven Mnuchin says Washington’s concerns regarding Chinese tech giant Huawei are “national security” issues — which are separate from trade — and will be “resolved one way or another.”


Huawei issues are ‘separate from trade,’ US Treasury Secretary says20 Hours AgoU.S. Treasury Secretary Steven Mnuchin says Washington’s concerns regarding Chinese tech giant Huawei are “national security” issues — which are separate from trade — and will be “resolved one way or another.”
Huawei issues are ‘separate from trade,’ US Treasury Secretary says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10
Keywords: news, cnbc, companies, issues, washingtons, treasury, trade, secretary, separate, huawei, steven, tech, way


Huawei issues are 'separate from trade,' US Treasury Secretary says

Huawei issues are ‘separate from trade,’ US Treasury Secretary says

20 Hours Ago

U.S. Treasury Secretary Steven Mnuchin says Washington’s concerns regarding Chinese tech giant Huawei are “national security” issues — which are separate from trade — and will be “resolved one way or another.”


Company: cnbc, Activity: cnbc, Date: 2019-06-10
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Treasury Secretary Steven Mnuchin won’t release Trump’s tax returns to Congress, says no ‘legitimate legislative purpose’

Treasury Secretary Steven Mnuchin on Monday said he will not allow President Donald Trump’s tax returns to be released to Congress by the IRS, as a powerful oversight committee has requested. House Democrats had asked the IRS to release six years of Trump’s personal and business tax returns. Experts have said the U.S. tax code mandates that anyone’s tax returns “shall” be released to one of the authorized panels if they request them. Trump has repeatedly rebuffed requests to release his tax retu


Treasury Secretary Steven Mnuchin on Monday said he will not allow President Donald Trump’s tax returns to be released to Congress by the IRS, as a powerful oversight committee has requested. House Democrats had asked the IRS to release six years of Trump’s personal and business tax returns. Experts have said the U.S. tax code mandates that anyone’s tax returns “shall” be released to one of the authorized panels if they request them. Trump has repeatedly rebuffed requests to release his tax retu
Treasury Secretary Steven Mnuchin won’t release Trump’s tax returns to Congress, says no ‘legitimate legislative purpose’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: dan mangan
Keywords: news, cnbc, companies, mnuchin, treasury, secretary, returns, trumps, request, house, department, congress, steven, trump, purpose, release, wont, irs, tax


Treasury Secretary Steven Mnuchin won't release Trump's tax returns to Congress, says no 'legitimate legislative purpose'

Treasury Secretary Steven Mnuchin on Monday said he will not allow President Donald Trump’s tax returns to be released to Congress by the IRS, as a powerful oversight committee has requested.

The formal denial, coming weeks after acting White House chief of staff Mick Mulvaney said Congress will never get those tax returns, sets the stage for yet another fight over documents sought by the Democratic-led House of Representatives from the Republican Trump’s administration.

The dispute could end up in court.

In a letter to House Ways and Means Committee Chairman Richard Neal, D-Mass., Mnuchin said that after conferring with the Justice Department, he has determined that the request “lacks a legitimate legislative purpose” and that because of that the request would be denied.

“I am informing you now that that [Treasury] Department may not lawfully fulfill the Committee’s request,” Mnuchin wrote to Neal, whose committee is one of three congressional panels with the power to request a president’s income tax returns.

House Democrats had asked the IRS to release six years of Trump’s personal and business tax returns. Experts have said the U.S. tax code mandates that anyone’s tax returns “shall” be released to one of the authorized panels if they request them.

Mnuchin’s letter called that request “unprecedented” and said it also “presents serious constitutional questions, the resolution of which may have lasting consequences for all taxpayers.”

Mnuchin also said that the Justice Department intends to “memorialize its advice in a published legal opinion as soon as practicable.”

Neal, in a statement, said, “Today, Secretary Mnuchin notified me that the IRS will not provide the documents I requested under Section 6103 of the Internal Revenue Code. I will consult with counsel and determine the appropriate response.”

Trump has repeatedly rebuffed requests to release his tax returns to the public, saying they are being audited. But Trump’s former personal attorney Michael Cohen has testified to Congress that he has seen no proof that Trump was being audited.

Cohen entered a federal prison in upstate New York on Monday to begin serving a three-year sentence for multiple crimes.

In April, Trump said Americans don’t care if they can see his tax returns.

“Remember, I got elected last time,” Trump told reporters then. “The same exact issue, with the same intensity, which wasn’t very much. Because frankly, the people don’t care.”

However, a poll conducted around the same time found that 51% of voters supported Democrats’ bid to obtain his tax returns, compared with 36% of voters who oppose that effort.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: dan mangan
Keywords: news, cnbc, companies, mnuchin, treasury, secretary, returns, trumps, request, house, department, congress, steven, trump, purpose, release, wont, irs, tax


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Steven Spielberg says his battle with Netflix wasn’t as bad as people made it seem

The anticlimactic vote seemed to close a chapter on a reported feud between the tech giant and legendary Hollywood director Steven Spielberg. But a New York Times report suggests Spielberg’s antipathy for streaming services like Netflix was overblown. “I want people to find their entertainment in any form or fashion that suits them,” Spielberg told the Times in an emailed statement. The sources told the Times that Spielberg is actually more frustrated with theater owners who have refused to comp


The anticlimactic vote seemed to close a chapter on a reported feud between the tech giant and legendary Hollywood director Steven Spielberg. But a New York Times report suggests Spielberg’s antipathy for streaming services like Netflix was overblown. “I want people to find their entertainment in any form or fashion that suits them,” Spielberg told the Times in an emailed statement. The sources told the Times that Spielberg is actually more frustrated with theater owners who have refused to comp
Steven Spielberg says his battle with Netflix wasn’t as bad as people made it seem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, matt winkelmeyer, getty images entertainment, getty images
Keywords: news, cnbc, companies, film, theaters, times, netflix, steven, experience, academy, rule, wasnt, spielberg, york, bad, battle, streaming


Steven Spielberg says his battle with Netflix wasn't as bad as people made it seem

Netflix and other streaming platforms solidified their stature in the film industry Tuesday when the Academy of Motion Picture and Arts and Sciences voted to maintain their eligibility for the Academy Awards. The Academy voted to keep a rule that allows any film that has at least a seven-day theatrical run in a Los Angeles theater to be considered for an Oscar.

The anticlimactic vote seemed to close a chapter on a reported feud between the tech giant and legendary Hollywood director Steven Spielberg. But a New York Times report suggests Spielberg’s antipathy for streaming services like Netflix was overblown.

“I want people to find their entertainment in any form or fashion that suits them,” Spielberg told the Times in an emailed statement. “Big screen, small screen — what really matters to me is a great story and everyone should have access to great stories.

“However, I feel people need to have the opportunity to leave the safe and familiar of their lives and go to a place where they can sit in the company of others and have a shared experience — cry together, laugh together, be afraid together — so that when it’s over they might feel a little less like strangers. I want to see the survival of movie theaters. I want the theatrical experience to remain relevant in our culture.”

Netflix made its award-winning film “Roma” available to theaters leading up to the event, but still rubbed some theater-owners the wrong way by refusing to honor the traditional exclusive 90-day window before releasing the film on its own service.

While Spielberg says he is concerned for the future of movie theaters and the experience of watching films, the Times reported that the director feels that his view of streaming platforms has been misrepresented, according to people close to him. The sources told the Times that Spielberg is actually more frustrated with theater owners who have refused to compromise on the 90-day exclusivity rule to play films like Netflix’s “Roma.”

AMC Theatres and Regal Cinemas shut “Roma” out of its showing for best picture contenders leading up to the Academy Awards even after Spielberg asked them to play the film despite it already being available on Netflix, according to the Times.

Spielberg’s production company Amblin Partners and the talent agency representing him did not immediately respond to requests for comment from CNBC. Netflix also did not immediately return a request for comment.

Read the full report at The New York Times.

Subscribe to CNBC on YouTube.

Watch: Oscar host receives letter from DOJ warning about proposed rule change


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, matt winkelmeyer, getty images entertainment, getty images
Keywords: news, cnbc, companies, film, theaters, times, netflix, steven, experience, academy, rule, wasnt, spielberg, york, bad, battle, streaming


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