Jack Ma Meets With Donald Trump to Talk About Creating Jobs

Jack Ma Meets With Donald Trump to Talk About Creating Jobs

Foto: Alibaba

Alibaba Chairman Jack Ma met with Donald Trump to discuss how the online retailer could help create 1 million new U.S. jobs, keying in on one of the president-elect’s chief concerns amid fraught relations between China and the incoming administration, according to Bloomberg. The Chinese e-commerce giant said the positions would be generated through Alibaba adding 1 million small and medium-sized U.S. businesses to its platforms, estimating that each one will hire a new person as a result of the added commerce.

Several other top executives have met with Trump in his New York headquarters promising to create U.S. jobs. But Ma’s 40-minute sit-down comes after Trump has called for high tariffs on trade with China, accused the country of stealing jobs from Americans and incited political controversy by reaching out to Taiwan. Alibaba was also recently put back on the U.S. “Notorious Markets” list, with its Taobao website cited as a haven for fake merchandise, suggesting it hasn’t done enough to fight counterfeits. Alibaba said at the time its new designation could have been influenced by politics.

Still, Alibaba needs to cultivate a positive working relationship with Trump as it aims to implement its international expansion plans. Ma’s discussion fits into Alibaba’s long-stated goal of bringing foreign goods to Chinese consumers. Ma has also said he wants the company to derive half of its revenue from outside China, which would to offset any slowdowns at home. Alibaba has a significant part of its business tied to trade in the U.S., giving it a strong incentive to avoid a situation in which Trump puts his campaign rhetoric into practice.

Higher tariffs would depress demand for the AliExpress site, where Chinese retailers sell to U.S. consumers. Any ensuing trade disputes could hurt sales on Alibaba’s Tmall platform, through which U.S. and international brands sell to Chinese consumers. Last year, 7,000 U.S. brands on Alibaba’s platforms made sales worth $15 billion to Chinese consumers, according to the company.

“Jack and I are going to do some great things together,” Trump said in the lobby of the Trump Tower in New York. After the meeting, Alibaba tweeted that it “wants to create U.S. jobs by helping U.S. small businesses and farmers sell to China’s 300 million-strong middle class.”

More from category

An Analyst Estimates Trump is Worth $2 Billion to Twitter

An Analyst Estimates Trump is Worth $2 Billion to Twitter

22 Aug 2017 comment

Without Donald Trump, Twitter could lose almost a fifth of its value, according to Bloomberg.

Biljana Cerin Elected in Board of Directors of (ISC)2

Biljana Cerin Elected in Board of Directors of (ISC)2

22 Aug 2017 comment

(ISC)² today announced the results of the annual election for its Board of Directors and Croatian expert Biljana Cerin becomes one of them. The 13-member board provides strategy, governance and oversight for the organization, grants certifications to qualifying candidates and enforces adherence to the (ISC)² Code of Ethics.

Infosys Seeks CEO Ready to Enter War Between Board and Founders

Infosys Seeks CEO Ready to Enter War Between Board and Founders

22 Aug 2017 comment

Infosys begins the search for a new CEO this week with a tough set of requirements for any candidate, according to Bloomberg. That person must be capable of leading a 200,000 employee organization, willing to tackle sweeping changes in the outsourcing industry and brave enough to drop in the middle of open warfare between the company’s board and co-founders.