Putin signals he is ready to AGREE to Trump's proposal for massive cuts in defence spending - and says China could follow suit

Vladimir Putin has signalled he could agree to Donald Trump's proposals for massive  defence cuts in return for the United States doing the same - all the while Europe is working to increase its military spending in the face of the Russian threat.

The US president has said he wants talks with Putin and Chinese leader Xi Jinping about a 50 per cent reduction in military budgets in all three countries.

'I think the idea is a good one: the United States would reduce by 50 per cent, and we would reduce by 50 per cent,' said Putin, in a move towards Trump as their two countries continue to hold talks on ending the war in Ukraine.