“There’s a lot of import and consumption going on in China of foreign-branded products, and so of course, we worry about potential tariffs,” adds Tsai, who is one of the co-founders of Alibaba.
Alibaba Group chairman Joe Tsai says he has a “glass half full” attitude as trade tensions between the US and China escalate into a trade war. Tariffs, according to him, are a “negotiating tool” and “at some point, things will sort of get better”.
Tsai says the Chinese e-commerce and cloud computing giant sells US$50 billion ($66.69 billion) worth of American products and US$30 billion worth of European products to China each year. Naturally, the multinational company is concerned about the impact of tariffs on its earnings.
