Jack Ma walks back promise to create 1M United States jobs

Jack Ma walks back promise to create 1M United States jobs

Ma made the remark after President Donald Trump ordered the US Trade Representative to impose fresh tariffs on $US200 billion worth of Chinese goods.

Alibaba's executive chairman Jack Ma has said that his promise to Donald Trump to create one million jobs in the United States is no longer valid and viable after Washington slapped Beijing with new round of tariffs on $200bn worth of goods.

On Wednesday Ma told Xinhua, a Chinese news site, "The current situation has already destroyed the original premise".

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.

This week Trump said he would press ahead with 10% levies on US$200 billion of imports - on top of $50 billion already targeted - prompting Beijing to target another $60 billion of U.S. goods with five to 10 percent taxes.

Ma's appearance on Tuesday was his first appearance in front of investors after announcing his plans to step down as Alibaba executive chairman on September 10, 2019.

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In the Xinhua interview, Ma said Alibaba "will not stop promoting the healthy development of China-US trade".

China responded a day later with tariffs on about $60 billion worth of usa goods as previously planned, but reduced the level of tariffs that it will collect on the products. He predicted that Chinese businesses would move production to other countries in the medium-term to get around the tariffs. Citing weak trade rules, he further added that it would be "a mess" for all parties involved and is likely to go on for "maybe 20 years", according to Reuters.

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.

He added USA tariffs on hundreds of billions of dollars of Chinese products could prompt the country to export elsewhere.

"We need new trade rules, we need to upgrade the WTO".

"We should work more in Africa, SEA (South East Asia), Europe", he said.

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