President Donald Trump speaks to reporters aboard Air Force One.

Downing Street has rejected Donald Trump’s latest comments about the trading relationship between America and Britain.

The president claimed the US has “a huge deficit with the UK”, meaning America buys more from Britain than it sells.

He spoke out as he set out plans to impose 25% tariffs on all steel exported to the US, including from the UK.

But his claim was dismissed by Keir Starmer’s official spokesman, who told journalists this morning: “We have a balanced trading relationship with the US.”

That is because most of the UK’s exports to America are services, whereas the trade in goods is broadly in balance.

The spokesman also refused to be drawn on how the government will react if tariffs are placed on UK........

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