Trump says China-US trade deal could wait until after 2020 election

Shares tumble after president claims tariffs are hurting rival more than America

Donald Trump has warned that a trade deal with China could be more than a year away in comments that sent shares in Britain's top 100 companies and US stock markets tumbling.

Speaking at the Nato summit in London, the US president said the US was doing "very well" from the trade war and he was in no hurry to sign an agreement before he runs for re-election next November.