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Alibaba founder and chairman Jack Ma said the Chinese mega-trading company no longer planned to create 1 million jobs in the United States, citing the ongoing trade dispute. A new tariff cycle between the United States and China will make mutual trade more difficult.
Ma told the Chinese press Xinhutoday that its promise was based on the assumption that the United States and China would have "rational trade relations", which is no longer the case. "This promise was based on a friendly partnership between the United States and China and on rational trade relations," Ma said. "The current situation has already spoiled that. There is no way to make that promise a reality now, but we will not stop working hard to promote the healthy development of China-US trade. Last week, Ma announced her intention to retire this year. He denied the rumors that he would be deported.
The initial promise was made last January, just before Trump's inauguration. At the time, reports on Ma's bold claims were already skeptical, given the lack of detail.
After failing to reach an agreement with China on trade terms, the United States finalized Monday a new series of tariffs on Chinese imports worth $ 200 billion. The new rates impose a 10% tax when goods arrive in the US for the first time and reach 25% by the end of the year. The tariffs affect almost all American companies doing business with China.
On Tuesday, Ma called the trade situation a mess that could have consequences for decades. Today, Ma said that trade should be used for peace and not for war. "I mean that trade between the two countries – trade in the world – really needs to be improved, but trade is not a weapon, it can not be used for war, it must be used to establish the peace. "
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