Jack Ma, chairman of Alibaba, has abandoned a promise to create one million new jobs in the US, in a sign of the threat that rising trade tensions with China pose to some of US President Donald Trump’s key economic goals. From a report: “The promise was made on the premise of friendly US-China partnership and rational trade relations,” Ma told Chinese news site Xinhua on Wednesday. “That premise no longer exists today, so our promise cannot be fulfilled.” Ma, who recently announced that he will step down as Alibaba chairman within a year, added that the company would “not stop working hard to contribute to the healthy development of China-US trade.” Ma’s comments come on the heels of a new round of tariffs this week from both China and the U.S. that will affect billions of dollars worth of goods as the two countries have failed to reach a deal to resolve the Trump administration’s concerns about China’s trade practices.
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Source:: Slashdot