Britain and the United States trade hundreds of billions of dollars' worth of goods and services annually, but London hopes that ambiguities in the data will help to earn it an exclusion from U.S. President Donald Trump's sweeping tariff plans.

The UK is "out of line" in its trade with the US but the situation can be "worked out", President Donald Trump says. Asked by the BBC if he would target the UK with tariffs while arriving into Maryland from Florida, the US leader says: "We'll see what happens, it'll happen."

Sterling slid against the dollar but rose against the euro on Monday as the greenback rallied after the U.S. imposed tariffs on Canada, Mexico and China, while comments from President Donald Trump fuelled hopes Britain may be able to avoid levies.

U.S. President Donald Trump said on Sunday that although Britain was "out of line" when it came to trade he thought it may be able to avoid tariffs, adding of the imbalance: "I think that one can be worked out".

While arriving in Maryland from Florida, Trump told the BBC that tariffs on EU goods imported into the US could happen "pretty soon". "They don't take our cars, they don't take our farm products, they take almost nothing and we take everything from them.