Alibaba's Ma says 1m United States jobs pledge thwarted by trade row

Alibaba's Ma says 1m United States jobs pledge thwarted by trade row

Alibaba founder Jack Ma said the Chinese company will no longer create one million new jobs in America, as he had previously promised U.S. President Donald Trump due to the rocky trade relationship between the two nations.

Ma had offered the company's e-commerce platform to help US businesses sell products to Asia, with the potential of creating up to 1 million American jobs, during a meeting with US President Donald Trump in New York City in January a year ago.

"This commitment is based on friendly China-US cooperation and the rational and objective premise of bilateral trade", Ma told China-based new agency Xinhua on Wednesday.

Given China's counter-tariffs and the push for Chinese firms to find alternative, non-US sources for goods, the already optimistic pledge would be even more unlikely in the current environment. "There is no way to deliver the promise".

In an interview with Chinese state media Mr Ma said that the spiralling tariff dispute between the White House and...

China added $60 billion of US products to its import tariff list on Tuesday to hit back at USA duties on $200 billion of Chinese goods that go into effect from September 24.

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"But we will continue to work hard to promote the healthy development of China-US trade".

But yesterday he said: "The trade in the world really needs to be perfected, but trade is not a weapon, it can not be used for war, it should be a propeller for peace".

Some analysts and American businesses are now concerned China could resort to other means of retaliation such as pressuring USA companies operating in China.

Tensions have escalated this week as China vowed to retaliate against United States plans to levy tariffs on about $200 billion in Chinese goods.

"The U.S. like competition, China likes harmony, they're two different cultures", Ma said at an investor conference in Shanghai on Tuesday.

The comments are not surprising considering the sentiments he expressed earlier in the week, when he said the trade war could last for twenty years and that there is no short-term solution.

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