Alibaba Won't Create 1 Million US Jobs, Blames US-China Trade Friction

Isaac Cain
September 21, 2018

Trump also warned China against any retaliation, saying if Beijing retaliated this time, the USA would impose further tariffs on another $267 billion worth of products virtually covering nearly all Chinese exports to the United States totalling about $522.9 billion.

U.S. President Donald Trump has threatened further retaliation if Beijing takes aim at U.S. agricultural or industrial workers as he accused China of trying to sway U.S. elections by targeting farmers.

In an interview Wednesday with Xinhua, the official state-run press agency of the People's Republic of China, Ma said the idea was premised on a friendly U.S. -China trade becoming increasingly contentious, the promise can not be fulfilled.

At Alibaba's annual investor event on Tuesday in Hangzhou, Ma warned that the trade friction between the U.S. and China will be a protracted affair because it is about two countries competing with each other.

On Monday, Trump announced that the U.S. would impose 10 per cent tariffs on an additional US$200 billion worth of Chinese products from September 24, with the tariff rate increasing to 25 per cent on January 1 next year unless China makes concessions.

Ma and Trump met in January 2017 to discuss how adding small and medium-sized USA businesses to Alibaba's platform would boost employment.

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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.

Ma also said that trade should be used as a tool for peace rather than a weapon.

China has retaliated by raising its own tariffs on US-made products. "There is no way to deliver the promise".

The two companies assert they are combining VMware's hybrid cloud software portfolio with Alibaba Cloud's scalable cloud infrastructure to enable enterprises to easily expand their existing workloads from on-premises data centers to the cloud.

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.

Escalating the trade war with the world's second largest economy, Trump had slapped 10 per cent tariffs on $200 billion worth of Chinese imports and the duties will rise to whopping 25 per cent at the end of the year. In China, American food and products have a very high reputation.

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