Jack Ma says he can't create 1 million US jobs after all

Laverne Mann
September 21, 2018

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.

Ma and Trump met in January 2017 to discuss how adding small and medium-sized U.S. businesses to Alibaba's platform would boost employment. "They still have many opportunities despite the trade frictions between China and the US", Ma said.

Analysts said the early withdrawal of Ma, the charismatic face of a company that has revolutionized how and what China's people consume, will challenge Alibaba to carry on Ma's vision amid rising competition.

Alibaba Chairman Jack Ma said the company can no longer meet its promise to create 1 million jobs in the United States due to U.S.

Ma said his commitment relied on friendly cooperation between the USA and China, and on the "rational and objective premise of bilateral trade".

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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.

In April, Mr Ma doubled down on his pledge, claiming 10 million jobs could be created "if China and the USA maintain good trade relations".

Ma said that the USA -initiated trade war is "against China", and also disapproved his country's policies requesting the leaders to open up the market and seize the situation as an opportunity to upgrade.

"You may win the battle, but you lose the war", Ma said at the shareholder event in Hangzhou. Ma referred to this continuing trade debacle in a call on Tuesday with investors as a "mess". "There is no way to deliver the promise".

Ma's latest comments come on top of others he recently made about the escalating trade skirmish and show his support for Beijing's stance on how additional tariffs will affect businesses and the country's cornerstone One Belt One Road foreign policy initiative.

Other reports by MaliBehiribAe

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