Tuesday, January 10, 2017

Alibaba's Jack Ma Meets With Trump To Talk Jobs

Asia's richest man is the latest to cozy up to Donald Trump with the promise of creating more American jobs.

Jack Ma, the billionaire founder and executive chairman of the Alibaba Group (BABA, Tech30), met with Trump on Monday to tease plans for creating "one million" jobs in the U.S. through the company's e-commerce platform.

"Jack plans to share how Alibaba will create 1 million U.S. jobs by enabling 1 million small businesses to sell American goods to China and Asian consumers on the Alibaba platform," Brion Tingler, head of external affairs at Alibaba, said in a statement provided to CNNMoney.

Trump praised Ma after the meeting as a "great, great entrepreneur and one of the best in the world."

"We had a great meeting," Trump told the press pool at Trump Tower. "It's jobs. You just saw what happened with Fiat where they're going to build a massive plant ... in Michigan. And we're very happy. And Jack and I are going to do some great things."

"I love China and I love America," Ma told reporters.

However, details of the Alibaba plan remain vague. Ma has previously talked about his goal of getting American businesses to embrace the Chinese online shopping service.

"We want to help U.S. entrepreneurs, small business owners, and brands and companies of all sizes sell their goods to the growing Chinese consumer class," Ma wrote in a 2015 op-ed. "Chinese consumers will get to buy the American products they want. This, in turn, will help create American jobs and increase U.S. exports."

Alibaba stock was up 1.5% in early trading Monday following news of the meeting.

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