Ma met U.S. President Donald Trump two years ago and laid out the Chinese e-commerce giant’s plan to bring one million small U.S. businesses onto its platform to sell to Chinese consumers over the next five years.
“This commitment is based on friendly China-U.S. cooperation and the rational and objective premise of bilateral trade,” Ma told Xinhua on Wednesday.
“The current situation has already destroyed the original premise. There is no way to deliver the promise.”
Investors seemed unfazed by Ma’s comments, with Alibaba shares closing up 3.8 percent on Wednesday. They have declined 5.7 percent so far this year, including those gains.
Trump on Monday imposed 10 percent tariffs on about $200 billion worth of imports from China and threatened duties on about $267 billion more if China retaliated.
China responded a day later with tariffs on about $60 billion worth of U.S. goods as planned, but reduced the level of tariffs it will collect on the products.
Ma’s latest comments come on top of others he recently made about the escalating trade skirmish and show his support for Beijing’s stance on how additional tariffs will affect businesses and the country’s cornerstone One Belt One Road foreign policy initiative.
“The US like competition, China likes harmony, they’re two different cultures,” Ma said at an investor conference in Shanghai on Tuesday.
He added US tariffs on hundreds of billions of dollars of Chinese products could prompt the country to export elsewhere.
“We should work more in Africa, SEA (South East Asia), Europe,” he said.
Trump required an early checkup from brain specialist.