US President Donald Trump set out a strong message on trade at a meeting of Asia-Pacific countries in Vietnam on Friday, saying the United States could no longer tolerate chronic trade abuses and would insist on fair and equal trade policies.

Trump said the United States was ready to make a bilateral deal with any country in the Indo-Pacific region, but only on the basis of "mutual respect and mutual benefit".

Although he was addressing a meeting alongside the summit of Asia-Pacific Econoic Cooperation (APEC) leaders, he repeatedly referred to the Indo-Pacific region and mentioned the importance of India in his speech.

Referring to North Korea, he said the region must not be held hostage to a dictator's "twisted fantasies".