President Donald Trump is trying to make good on his “America First” agenda by instituting steel tariffs, a move which may lead to a global trade war.

But if he wants a smarter way to advance his policies, he should tune into the Academy Awards on March 4. He will see actors and directors who represent an industry that employs 2 million people and generates $121 billion in income.

Movies and music are cultural exports that help to narrow America’s trade deficits. These cultural and artistic services are part of the wider “creative economy,” which generated trade surpluses of $11 billion in 2011 and $26 billion in 2014, (the most recent data available) according to the National Endowment for the Arts.

Among developed countries, the United States is the leader in cultural exports with 8 percent market share, with Germany second at 6 percent. In 2012, trade in U.S. arts and cultural goods and services yielded a trade surplus with China, which has become America’s largest export market for these items.

During his presidential campaign, Trump lambasted America’s trade deficits with other countries and avowed to correct, or at least improve, these imbalances. For example, he decried the U.S-Korea Free Trade Agreement as a “job killer,” and in June 2017, told South Korea’s president “the United States has trade deficits with many, many countries, and we cannot allow that to continue.”

His administration is preparing to vacate the agreement, causing concern among South Korean business leaders. Despite his attempts to narrow the overall trade deficit, it’s actually on track to increase on the back of strong U.S. demand for imports.

Hollywood’s trade numbers present an opportunity for Trump, who has frequently cited China as taking advantage of America through trade. To his credit, Trump has sought better terms for Hollywood films abroad.

At a bilateral summit in April, he reached an agreement with Chinese President Xi Jinping to boost the number of American movies that are released in China from thirty-eight to a number to determined later.

As part of a 2012 agreement, China limited the number of US film imports so that Chinese movies could thrive at the box office. All told, Chinese moviegoers generated $1.8 billion in revenue for twenty well-known Hollywood films in 2016. Of course, Hollywood studios are keen to gain a bigger share of the Chinese box office market, which is on track to be the world’s largest by 2020.