Trump downplays rise in inflation in US as trade tensions intensify

U.S. President Donald Trump said the tariffs that his administration has imposed on Chinese imports were not pushing up U.S. inflation and were prompting manufacturers in the Asian powerhouse to move elsewhere.

"Many firms are leaving China for other countries, including the U.S. in order to avoid paying the tariffs," Trump said on Twitter shortly after beginning a state visit to Britain.

"No visible increase in costs or inflation, but the U.S. is taking billions."