Alibaba´s Ma says 1m USA jobs pledge thwarted by trade row

Alibaba’s Jack Ma says US-China tariff war could last 2 decades

Alibaba’s Jack Ma takes back promise to Trump to create 1 million US jobs

Jack Ma, Alibaba co-founder and chairman, said then that China needed to control its "core technology" like chips to avoid over-reliance on U.S. imports.

The Alibaba (BABA) chief grabbed attention at the start of a year ago when he made the ambitious jobs pledge following a meeting with Donald Trump, who was president elect at the time.

One million jobs would be close to 1% of all jobs in the United States - meaning that successfully delivering would make Alibaba one of the country's largest private employers.

"Short term, business communities in China, US, Europe will all be in trouble", Ma said at the event, as quoted by Bloomberg, adding: "If you want a short-term solution, there is no solution".

Trump on Monday imposed 10 per cent tariffs on about $200-billion worth of imports from China, and threatened duties on about $267-billion more if China retaliated.

Ma made the comments in what he said was his last speech to shareholders as chairman of the Chinese internet giant.

But the trade dispute between the world´s top two economies has swiftly escalated since Trump took office, with a series of tit-for-tat tariffs brought on billions of dollars´ worth of goods by both countries.

"Trade is not a weapon and can not be used for wars", he added. Ma had said he wanted to enable one million small businesses and farmers in America access to sell goods to customers at Alibaba in China and throughout Asia. "Trade should be the propeller of peace".

The new round of tariffs by Beijing will affect over 5,000 USA goods, ranging from meat, chemicals, nuts, alcoholic drinks, clothes, machinery, furniture and automobile parts, in a move that would further escalate the trade war between the world's largest two economies.

He announced last week that he will step down within a year and hand the company reins to chief executive Daniel Zhang.

He has expressed a desire to follow in the philanthropic footsteps of Microsoft founder Bill Gates. "It´s exciting to have more than a dozen years to take on a new career".

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