Trump proposes nuclear deal with Russia and China to halve defense budgets

We're all spending a lot of money that we could be spending on other things,' the US president said

Donald Trump said that he wants to restart nuclear arms control talks with Russia and China and that eventually he hopes all three countries could agree to cut their massive defense budgets in half.

Speaking to reporters in the Oval Office on Thursday, Trump lamented the hundreds of billions of dollars being invested in rebuilding the nation's nuclear deterrent and said he hopes to gain commitments from the US adversaries to cut their own spending.