The chairperson of Alibaba Group Holding ADR (NYSE:BABA), Joseph Tsai acknowledged that everyone around the world is concerned about the ongoing tariff battle between the economic powerhouses of the world.
What Happened: While speaking at CNBC’s event Converge Live, in Singapore, Tsai responded to a question on tariff imposition by the Donald Trump administration and said that “Everyone is concerned about tariffs.”
He highlighted that the Chinese multinational technology company sells $50 billion worth of American products on its platform to Chinese consumers every year. On the other hand, about $30 billion worth of European products are also sold annually.
“I think the Trump administration will want to have more American companies doing business …