Trump meets with billionaire founder of China's Alibaba

Ma, who is the richest person in Asia, told reporters that the two discussed how to help small businesses in the USA sell agricultural products to consumers in Asia.

The meeting is the latest sign that e-commerce has moved to the forefront of both worldwide relations and domestic politics, and is expected to be a major point of contention in the Trump administration.

"We had a great meeting", Trump told reporters after the meeting at Trump Tower in NY.

"I think the door is opened for discussing the relationship on trade issues", Ma said.

At the same time, Alibaba's founder, Jack Ma, met with president-elect Donald Trump to unveil his plans to bring more than a million American businesses to its online platform, which should open up the Chinese market for American companies. The partnership already gives Alibaba access to Intime's inventory and allows its online customers to pick up orders from physical stores.

Ma gets on rather well with the Chinese authorities which is more than can be said for Trump.

Jack Ma met Trump in NY, and the two talked U.S.

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He had also promised to call China a currency manipulator on his first day in office. Both individuals decided that US-China relations "should be strengthened, should be more friendly and do better". We know there's big demand for that in China.

The Chinese company expects the increased demands from Asian consumers for those American goods to necessitate hiring increases by US brands as they work to meet the heightened demand. They made $15 billion in sales to Chinese consumers previous year.

However, some of the foreign retailers on Tmall have not had success. "So that is what they are all now saying", he said.

Alibaba spokesperson told CNBC before the meeting that the Chinese online retail giant company would create 1 million jobs over the next five years, Ma's comments fixated on supporting small businesses.

"There's no one who could prove or disprove how likely that's going to be", he said.

Alibaba is aggressive in its approach to making deals, recently announcing 35 deals over the past 12 months, totalling $US15.2 billion, according to Bloomberg.

A staunch opponent of the Transpacific Partnership, (then) candidate Trump had campaigned on the premise that the U.S was losing to China from a trade perspective.

  • Kyle Warner