However, Mr Trump blamed former president Mr Obama's administration for selling "perhaps the best located and finest embassy in London for peanuts".
London's Madame Tussauds moved its wax figure of President TrumpDonald John TrumpHouse Democrat slams Donald Trump Jr. for "serious case of amnesia" after testimony Skier Lindsey Vonn: I don't want to represent Trump at Olympics Poll: 4 in 10 Republicans think senior Trump advisers had improper dealings with Russia MORE to the new US embassy in the city after the president canceled his visit to open the building next month.
The relocation and redevelopment plan was executed starting under former President George W. Bush in 2008 and was made for security reasons, officials said at the time. "Bad deal. Wanted me to cut ribbon-NO!"
Many politicians in the United Kingdom said the real reason for the cancellation was to avoid the growing number of anti-Trump protests planned for the president's visit.
A pillar of Britain's foreign policy since World War Two, the so-called "special relationship" with Washington has taken on added importance as Britain prepares to leave the European Union in 2019 and seeks new major trade deals.
The idea had gradually evolved into a working visit in which Trump would open the London embassy.
Prime Minister Theresa May was the first foreign leader to visit Trump after his inauguration in January past year, and they were filmed emerging from the White House holding hands. The uproar came after Trump re-tweeted three anti-Muslim videos posted by a leader of the far-right group Britain First - a tiny group that regularly posts inflammatory videos.More news: Six dead as severe winter storm hits US East Coast
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Trump's critics believed he had pulled out of the trip over fears of mass protests over his impending state visit to the country, which is set to go ahead though no date has been confirmed by Downing Street. He said the opening of the embassy was a matter for the U.S. government.
"The US is one of our oldest and most valued allies and our strong and deep partnership will endure", he said.
Some U.K. lawmakers had said Trump was not welcome in Britain after he re-tweeted videos from a far-right British group and criticized London Mayor Sadiq Khan following a terror attack a year ago. "It seems he's finally got that message", tweeted Mayor of London Sadiq Khan. But Foreign Secretary Boris Johnson blamed Khan and Labour Party leader Jeremy Corbyn for discouraging the US leader from coming.
"We will not allow US-UK relations to be endangered by some puffed up pompous popinjay in City Hall".
"I think we have to welcome the American President to Britain", Johnson said.
Downing Street said no date has been confirmed for any visit by Mr Trump and that the opening of the U.S. embassy "is a matter for the US".
"Our new embassy reflects not just America's special history with the United Kingdom but the special future ahead of us as we advance the prosperity and security of both our nations", he wrote.