US President Donald Trump on Monday proposed future talks with the leaders of China and Russia aimed at halting what he described as a "major and uncontrollable Arms Race".

"The US spent 716 Billion Dollars this year. Crazy!" he said in an early morning tweet.

"I am certain that, at some time in the future, President Xi and I, together with President Putin of Russia, will start talking about a meaningful halt to what has become a major and uncontrollable Arms Race.

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