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Donald Trump has signalled he could spark a trade war with the EU after condemning Brussels' approach as "very, very unfair".

The US President spoke out in his first British TV interview in office with ITV's Piers Morgan.

The billionaire, who has already attacked China over trade and pulled out of the Trans-Pacific Partnership, declared: "It's a very unfair situation.

"We cannot get our product in. It's very very tough. And yet they send their product to use - no taxes, very little taxes. It's very unfair.

"I've had a lot of problems with the European Union, and it may morph into something very big from that standpoint, from a trade standpoint."

The stark warning, made during the World Economic Forum in Davos but only aired today, came within hours of President Trump said US trade with Britain would "increase many times".

(Image: REUTERS)

In a boost to Theresa May, the President said: "One thing that will be taking place over a number of years will be trade."

But it's emerged Trump also slammed Theresa May's handling of Brexit negotiations - saying he would have been "tougher" with the EU.

Good Morning Britain host Piers asked the 71-year-old if Mrs May was in a "good position" regarding the ongoing Brexit talks.

Trump replied: ‘Would it be the way I negotiate? No, I wouldn’t negotiate it the way it’s [being] negotiated… I would have had a different attitude."

"I would have said that the European Union is not cracked up to what it’s supposed to be. I would have taken a tougher stand in getting out."

(Image: REUTERS)

Mr Morgan told the BBC: "I think he's looked at it and said 'what exactly is Britain negotiating here? Are you actually leaving? Are you trying to pretend you're not leaving?'

"He doesn't understand the subtleties.

"He was very scathing about the EU - he said his own dealing with the EU had been pretty problematic and he actually gave a stark warning that he is coming after them on trade.

"I would not be surprised - the biggest trading partner of America in the world is the EU, 650 odd billion dollars a year.

"He was making it very clear he's not happy with that trade arrangement."

Morgan said Mr Trump had been on a "charm offensive" toward Britain at the World Economic Forum in Davos this week, where the president's arrival was "like Mick Jagger had arrived".

The interview will air on ITV tonight at 10pm.