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

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Ma, who recently announced that he will be stepping down as Alibaba's chairman within a year, also told Xinhua that despite the current fiction, he will "not stop working hard to contribute to the healthy development of China-US trade".

The Chinese firm said the new subsidiary would make customised AI chips and embedded processors to support the firm's push into fast growing cloud and internet of things (IoT) businesses.

A spokeswoman for Alibaba, China's biggest e-commerce company, confirmed Ma's comments to CNN.

Ma said Alibaba could create "1 million jobs over the next five years by enabling 1 million American small businesses and farmers to sell US goods to China and Asian consumers on the Alibaba platform".

Alibaba founder Jack Ma said the Chinese company will no longer create one million new jobs in America, as he had previously promised U.S. President Donald Trump due to the rocky trade relationship between the two nations. "The situation now has completely destroyed our premise, so it can no longer be completed". "China partnership and the rational and objective premise of bilateral trade". "There is no way to deliver the promise", he said.

"It's going to be long-lasting, it's going to be a mess, maybe 20 years", Ma said.

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The vague promise wasn't based on Alibaba investing in the United States to build factories or fulfillment centers.

"Business communities in China, the U.S. and Europe will be all in trouble in the short term".

Ma was speaking at an Alibaba investor conference hours after Washington said it would impose duties on an extra $200 billion worth of Chinese imports, drawing a warning from Beijing that it would retaliate.

Last week, Ma announced he would be retiring from the executive chairman position of Alibaba within the next year, and has been planning on leaving for quite some time.

"Middle term, a lot of Chinese business will move to other countries", he added.

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