Home Business Life Trump-China Trade War: Alibaba Backpedals

Trump-China Trade War: Alibaba Backpedals


Alibaba is one of the most valuable companies in the world.


In a meeting in January 2017, chairman Jack Ma stated that the company was planning on getting American small businesses to sell on its platforms within 5 years.


Therefore it would create a million jobs in the U.S.


But things don’t always go as planned.


The day before, Trump decided on a 10% tariff on about $200 billion worth of Chinese imports.


China announced new trade tariffs on $60 billion of U.S. goods as a response.


At an investor conference in Shanghai on Tuesday, Ma stated that this situation would lead to ‘’a mess’’ for both parties, Reuters reported.

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