Alibaba's Jack Ma says scared by prospects of global trade war

[GENEVA] Alibaba Group Holding's executive chairman Jack Ma pleaded with governments around the globe not to use "trade as a weapon," as President Donald Trump made his first major move to level a global playing field he says is tilted against American companies.

"it is easy to launch a trade war but so difficult to stop the disaster of this war," Ma said at a panel in Davos on Wednesday. "I am scared. I am concerned. Don't use trade as a weapon."

"It's impossible to stop trade. The world needs trade," Ma said.

The US will impose new duties of as much as 30 percent on imported solar equipment, the US Trade Representative's office said on Monday. Trump, who took office a year ago, also approved tariffs as high as 50 per cent on imported washing machines.

BLOOMBERG