Jack Ma kills 1m US jobs promise, blaming US-China trade war

Alibaba founder retracts promise to create 1M jobs in U.S. calling trade relations with China a 'mess'

President-elect Donald Trump and Alibaba chairman Jack Ma met at Trump Tower in January 2017

China hopes the United States will show sincerity and take steps to correct its behavior, its commerce ministry said on Thursday, after both countries slapped new tariffs on each other's goods this week in an escalating trade war.

Escalating tariffs between the US and China may negatively impact cloud computing and force a shuffle in supply chains and trade partnerships. On Monday, Trump announced a 10% tariff on another $200 billion worth of Chinese goods.

China has retaliated by raising its own tariffs on US-made products.

Jack Ma, though he had not went into detail about how he would add the jobs he promised, wanted to encourage small American businesses to sell on the Alibaba marketplace Tmall and Taobao.

"The promise was on the basis of friendly China-U.S. cooperation and the rational and objective premise of bilateral trade", Ma told Xinhua News in a interview on Wednesday.

Hurricane Florence: North Carolina's Pig Manure Lagoons Overflowed Extensively-But Didn't Fail
They also warned people to not get caught off guard as rivers that briefly receded were periodically rising back. He also joked with a family who had a large yacht they didn't own wash up against their house.

Ma's statement comes on the heels of the Trump administration imposing tariffs on $200 billion worth of imports from China and the Chinese reacting with tariffs on about $60 billion worth of USA goods.

"We should work more in Africa, SEA (South East Asia), Europe", he said. Alibaba countered that it had taken aggressive steps to tackle the problem, and said it had become a scapegoat under a US protectionist agenda. Earlier this month, Ma had announced that he will hand over the company Chairman's post to Daniel Zhang, who's now the CEO of the company. On Tuesday, he cautioned China's business and political leaders to prepare for the conflict to last 20 years, beyond the Trump presidency, as the two countries battle for economic supremacy.

He added that the trade war will last not for 20 months or 20 days, but "maybe 20 years". "Today China has become the second-largest economy in the world".

"The robotics industry is revolutionising the world and Alibaba Artificial Intelligence (AI) Labs is raising the stakes in this industry with the launch of service robots for hospitality sector starting October", the company said at its annual Cloud Computing Conference 2018 being held here.

Weeks later, Alibaba's digital payments affiliate, Ant Financial Services Group, announced plans to acquire the USA money transfer firm Moneygram. Also in 2019, Zhang continued, Alibaba will also release its embedded CK902 series chipsets to support network security functions.

Latest News