Alibaba's Jack Ma backs away from promise to create 1 million U.S. jobs

On Wednesday, Jack Ma, founder and chairman of the Chinese retailer Alibaba, walked back a promise he made to President Trump in January 2017.

During their meeting, Ma told Trump he planned on creating 1 million jobs in the United States over five years, getting American businesses and farmers onto Alibaba's online platform to sell their wares in China. There's no way this could happen now, Ma told the Chinese news outlet Xinhua on Wednesday. "The promise was made on the premise of friendly U.S.-China partnership and rational trade relations," he said. "That premise no longer exists today, so our promise cannot be fulfilled."

On Monday, in the latest round of tariffs the U.S. imposed levies on $200 billion worth of Chinese goods, and China retaliated by slapping tariffs on $60 billion worth of U.S. imports. During an Alibaba investor conference on Tuesday, Ma called the trade tensions "a mess," but told Xinhua he will not "stop working hard to contribute to the healthy development of China-U.S. trade."

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