×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: jack ma | trade | alibaba | china | tariffs

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

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

Jack Ma.(Imaginechina via AP Images)

By    |   Wednesday, 19 September 2018 04:06 PM EDT

Chinese billionaire Jack Ma said the frosty U.S.-China relations mean Alibaba, the Chinese retail business he co-founded and chairs, will no longer strive to create a million American jobs.

Ma made the comments during an interview with Xinhua. According to a transcribed version of the interview posted to CNBC, Ma is backing away from a promise he made to President Donald Trump in the days before Trump took office in January 2017 that he would create 1 million jobs in the United States.

"The promise was made on the premise of friendly U.S.-China partnership and rational trade relations," Ma said. "That premise no longer exists today, so our promise cannot be fulfilled."

Ma noted that Alibaba will continue "working hard to contribute to the healthy development of China-U.S. trade."

Ma announced earlier this month that he plans to step down as Alibaba chairman in September 2019. According to Forbes, he is worth $36.6 billion.

The Trump administration is in the middle of a trade war with China that includes both sides placing tariffs on each other's products. Trump's end goal is to get rid of tariffs altogether.

© 2023 Newsmax. All rights reserved.


StreetTalk
Chinese billionaire Jack Ma said the frosty U.S.-China relations mean Alibaba, the Chinese retail business he co-founded and chairs, will no longer strive to create a million American jobs.Ma made the comments during an interview with Xinhua.
jack ma, trade, alibaba, china, tariffs
189
2018-06-19
Wednesday, 19 September 2018 04:06 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved