Trump's comments came a few days after the White House imposed sanctions on Russia for its meddling in the 2016 election and other "malicious cyberattacks," and sharply criticised it for its apparent role in a nerve agent attack on a former Russian spy and his daughter on British soil.

Trump noted that his administration was spending $700 billion ($910b) to upgrade the US military, and said he would never allow Russia, or any other country, to approach its military might.

"We will never allow anybody to have anything even close to what we have," Trump said.

The president said he and Putin would also discuss tensions in Ukraine, Syria and North Korea, among other issues.

The Trump administration issued a new nuclear policy last month that experts say will touch off a new kind of nuclear arms race - one based less on numbers of weapons and more on new tactics and technologies.

The White House vows to counter a rush by the Russians to modernize their forces even while staying within the limits imposed by an arms control treaty negotiated by Trump's predecessor, President Barack Obama.

In March 2012, Obama had a telephone conversation with Putin and congratulated him on his election victory at that time.