Alibaba's Ma says 1m U.S. jobs pledge thwarted by trade row

by Linda Olson September 21, 2018, 2:52
Alibaba's Ma says 1m U.S. jobs pledge thwarted by trade row

At a meeting at Trump Tower, Ma promised Trump he would work to create one million United States jobs, helping American businesses tap into China's growing market for consumer goods.

"The promise was made based on the premise of friendly US-China partnership and rational trade relations", Ma told state news agency Xinhua on Wednesday on the sidelines of an Alibaba conference in the eastern coastal city of Hangzhou.

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

"The economic outlook is not flawless of course, and it will last longer than people expect", Ma said at the World Economic Forum in Tianjin.

"Trade is not a weapon and can not be used for wars", he added, in an exclusive interview with Xinhua news agency. "Trade should be the propeller of peace".

Ma, China's richest man, made the remarks in an interview in the state-owned Xinhua news service, saying the pledge made to President Donald Trump is no longer feasible because of the unstable trade situation.

Trump's latest boast about the economy isn't even close to accurate
The U.S.is now its 10th year of economic growth, and in its longest period of growth with 95 straight months of job creation. The unemployment rate is at near-20-year lows, but recorded its steepest declines while Mr Obama was in charge.

The Alibaba executive's comments come the day after the trade war escalated further.

"It can't be used for war, it should be used to bring about peace", he said.

On Monday, the Trump administration expanded tariffs on another $200 billion worth of Chinese imported goods.

Ma made his commitment on January 9, 2017, prior to Trump's inauguration in a meeting at Trump Tower in New York City.

Ma pointed to business opportunities in other regions such as Europe, South America, Russia and Africa, Xinhua said.

Ma, expected to step down as Alibaba chairman in a year, predicted on Tuesday that trade frictions would lead to "a mess" for all parties involved.

China responded a day later with tariffs on about $60 billion worth of US goods as previously planned, but reduced the level of tariffs that it will collect on the products.

Recommended News


TOP News

Florence's 'violent grind' leaves at least four dead in Carolinas
Mayor Beach Mayor Brenda Bethune told CNN traffic out of the SC city has more than quadrupled as residents and visitors evacuate. One person died at the West Brunswick High School shelter Thursday morning, according to a spokesperson for Brunswick County.

Pressure Mounts On Republicans To Postpone Brett Kavanaugh Vote
She wrote an anonymous letter to Sen. " She will agree to participate in any proceedings that she's asked to participate in". Kavanaugh has completely denied the allegations, as has Mark Judge , a friend of his who Ford said witnessed the assault.

South Africa's top court legalises personal, private marijuana use
It's about time that South Africans move along with the times and start using what is most valuable. South Africa is a large source of herbal cannabis for the United Kingdom and continental Europe.

Inter Target Lozano Reveals Dream Of Playing For Barcelona
As long as we win the game they can do what they want. "I am going to enjoy it". Messi scored the opener with a brilliant free-kick.

Here's What Wall Street Is Saying About Apple's New iPhones
The base level iPhone is now the iPhone 7 with a 4.7-inch display, A10 Fusion chip, water proofing and stereo speaker setup. If you're in the market to replace your phone, you may be considering buying the latest and greatest Apple has to offer .

You Can Already Wager On Where Jimmy Butler Will Be Traded
ESPN reported that Butler's three preferred trade destinations are the Nets , Knicks and Clippers . Leonard could always return to the Raptors, but it appears the Clippers are the current favorites.

Leaked Google Home Hub Revealed To Be Google’s Own Smart Display
The Echo Wall Clock means you won't have to worry about the switch to daylight savings time again, Limp said . Last month, there were reports on Google developing a smart speaker with a display to launch later this year.

Outside groups dig in as allegation roils Kavanaugh nomination
A Republican not on the committee, Bob Corker of Tennessee, said the vote should be postponed until the committee heard from Ford. Dianne Feinstein, the top Democrat on the Judiciary Committee. "I think she's...she's mistaken something that I don't know".

Patriots Acquire Josh Gordon For 5th Round Pick
As part of the condition, the 27-year-old Gordon reportedly must appear in at least 10 of New England's 14 remaining games. He missed training camp to receive treatment and the Browns were cautiously optimistic he would help them this season.

Amazon considering opening 3,000 ‘cashierless’ stores
Amazon has been quite cautious in its roll-out of Amazon Go stores that replace the cashier with a smartphone app. The e-tail giant now has four Amazon Go stores: three in Seattle and one in Chicago, which opened on Monday.