Mr Trump, asked by a reporter at the White House on Tuesday if the United States Studies Centre report is something that "keeps you up at night", responded that no other nation comes close to competing with the US military.

"Well, nothing keeps me up at night," Mr Trump told the reporter.

"I'll tell you, we could wipe out anything."

The report, titled Averting Crisis: American Strategy, Military Spending and Collective Defence in the Indo-Pacific, predicts the growing arsenal of accurate long-range missiles possessed by China's People's Liberation Army poses a major threat to American and allied military facilities in the western Pacific.

"As these facilities could be rendered useless by precision strikes in the opening hours of a conflict, the PLA missile threat challenges America's ability to freely operate its forces from forward locations throughout the region," the report warns.

Mr Trump said he had funded the US military with hundreds of billions of dollars since arriving in office in 2017 and the rebuilding is almost complete.

"When I came in two and a half years ago, we were in a very bad position," he said.

"Now we're in a very strong position.

"... Right now, there's nobody that's even close to us, militarily.

"Not even close."

Australian Associated Press