Alibaba founder Jack Ma withdrew his offer to help grow American businesses.
A key jobs promise that was delivered personally to Trump in early 2017 has now been rescinded, all thanks to Trump's disastrous trade war.
Jack Ma, one of the richest men in Asia and the founder of the e-commerce giant Alibaba, met with Trump in Trump Tower in January 2017 and promised to help create 1 million U.S. jobs.
At the time, Trump told reporters the two had a "great meeting" and would accomplish great things together. The headlines about new job gains were exactly the kind Trump wanted to generate back then.
At the time, Ma also dined alone with Ivanka Trump and sat next to commerce secretary Wilbur Ross during a meeting of U.S. and Chinese businessmen.
But now, Ma's 1 million job pledge is off the table.
“The current situation has already destroyed the original premise and there’s no way we could meet it,” Ma told China’s state news agency Xinhua. "Trade is not a weapon. It can’t be used for war. It should be used as a tool to promote peace.”
The announcement came one day after the Chinese government retaliated against Trump's trade crusade. Trump this week ordered officials to slap tariffs on $200 billion in Chinese goods. Beijing responded by announcing it would hit $60 billion in U.S. products with duties.
Ma's million job vow revolved around the idea of getting American small companies onto Alibaba's e-commerce platforms to sell products to Chinese shoppers, which would dramatically increase sales and grow businesses.
Ma said he especially wanted to help small businesses in the American Midwest, by allowing them to tap into the vast Chinese consumer market.
Whether Ma could deliver on his pledge was always open to debate. But now in the face of Trump's destructive trade war, he's withdrawn the offer completely.
Again, Trump's policy is creating far more losers than winners in the U.S.
Made up of 80 businesses and trade groups, including Farmers for Free Trade, the National Fisheries Institute, the Association of Equipment Manufacturers, and the National Marine Manufacturers Association, the “Tariffs Hurt the Heartland” marketing blitz represents the largest anti-tariff campaign of its kind.
Midwest farmers and Chinese businessmen both agree, Trump's trade war is hurting America.
Published with permission of The American Independent Foundation.