Alibaba Cloud's City Brain solution improves urban management in Hangzhou - USA

Alibaba's Ma Creating 1 mil. US jobs difficult

China on Tuesday hit back at the U.S. with tariffs on $60 billion worth of American goods, in a tit-for-tat move that came hours after President Donald Trump slapped duties on $200 billion worth of Chinese imports.

He had previously embraced the idea of expanding in the US. "The situation now has completely destroyed our premise, so it can no longer be completed". Rather, he spoke about trade stimulating by helping small businesses in the US sell products they have to consumers in both China and other Asian nations.

"They still have many opportunities despite the trade frictions between China and the US", Ma said.

He said that trade is not a weapon and shouldn't be used for wars.

Just two years ago, Ma called U.S. President Donald Trump "smart" and "open-minded", after their meeting at Trump Tower in NY together.

Ma announced earlier this month that in a year he plans to resign as chairman of Alibaba, one of the world's largest e-commerce companies, in order to devote himself to education.

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Alibaba's jobs pledge followed investments by the firm in USA companies such as Snapchat and Jet.com, as well as efforts to launch a U.S. online shopping site.

Alibaba Group senior vice president and Alibaba Cloud president Simon Hu says the company's solutions will exceed the cloud computing needs of enterprises with greater flexibility and data deployment options.

Weeks later, Alibaba's digital payments affiliate, Ant Financial Services Group, announced plans to acquire the USA money transfer firm Moneygram.

An in January, his administration blocked Ant Financial's Moneygram deal on national security grounds.

The tech tycoon's remarks come shortly after the Trump administration issued a new round of tariffs on $200 billion of Chinese imports, which go into effect on September 24, that will start at a rate of 10 percent and rise to 25 percent at year's end. The newest round will go into effect next week.

"We're very pleased to form an alliance with Alibaba Cloud as this relationship will further our commitment to help clients address key transformation priorities in the areas of growth, innovation and operational efficiency", said Honson To, chairman of KPMG China and Asia Pacific. Analysts have also warned that U.S. companies selling in China could face nationalist backlash against their products.

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