Planned Brexit trade talks between Liam Fox and US Commerce secretary Wilbur Ross have been cancelled, amid escalating tensions following the release of UK diplomatic memos calling Donald Trump "incompetent", "inept", and "insecure".

Wilbur Ross, President-elect Donald Trump’s pick for Commerce secretary, has urged other countries to exploit the “God-given opportunity” to steal business from the U.K., according to a report in The Times.