Jack Ma, Alibaba co-founder and chairman, said then that China needed to control its "core technology" like chips to avoid over-reliance on usa imports. "The situation now has completely destroyed our premise, so it can no longer be completed".
Ma in April doubled down on his pledge, claiming 10 million jobs could be created "if China and the United States maintain good trade relations".
The US and China trade war could last 20 years, Alibaba founder Jack Ma said.
Ma had met US President Donald Trump two years ago and laid out his company's plan to bring one million small US businesses onto its platform to sell to Chinese consumers over the next five years.
One million jobs would be close to 1 per cent of all jobs in the USA - meaning that successfully delivering on the pledge would make Alibaba one of the country's largest private employers. They have declined 5.7 per cent so far this year, including those gains.
This week Trump said he would press ahead with 10% levies on US$200 billion of imports - on top of $50 billion already targeted - prompting Beijing to target another $60 billion of U.S. goods with five to 10 percent taxes.
China placed tariffs on about $60 billion worth of USA products the next day as previously planned, though it reduced the size of the tariffs. Ma referred to this continuing trade debacle in a call on Tuesday with investors as a "mess".
"Middle term, a lot of Chinese business will move to other countries", he warned.
"The U.S. 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.
Mr Ma pointed to business opportunities in other regions such as Europe, South America, Russia and Africa, Xinhua said.