Washington: President Donald Trump has suggested that he might veto legislation designed to support anti-government protesters in Hong Kong - despite its near-unanimous support in the House and Senate - to pave the way for a trade deal with China.

Speaking on the Fox & Friends morning program on Friday, the President said that he was balancing competing priorities in the US-China relationship.

Donald Trump also claimed that he had saved the lives of thousands of Hong Kong demonstrators by telling Xi not to intervene. Credit:AP

"We have to stand with Hong Kong, but I'm also standing with President Xi [Jinping], he's a friend of mine. He's an incredible guy, but we have to stand ... I'd like to see them work it out, OK?" the President said.

"I stand with freedom, I stand with all of the things that I want to do, but we are also in the process of making one of the largest trade deals in history. And if we could do that, it would be great."