Jack Ma, founder and chairman of Chinese retail giant Alibaba, says the company no longer plans to create 1 million jobs in the United States in the wake of the ongoing trade conflict between the U.S. and China.

Ma made his original job creation pronouncement during a high-profile meeting with Donald Trump in January 2017 before Trump's inauguration as president.

"The promise was made on the premise of friendly US-China partnership and rational trade relations," Ma told Chinese news site Xinhua on Wednesday. "That premise no longer exists today, so our promise cannot be fulfilled."