WASHINGTON -- President Donald Trump says the U.S. and China agree that a "freeze-for-freeze" agreement with North Korea is not acceptable.

Trump was referring to a proposal, backed by both China and Russia, whereby the North would freeze its nuclear program in exchange for the U.S. and South Korea stopping military drills.

Trump said Wednesday that Chinese President Xi Jinping (shee jihn-peeng) recognizes that a nuclear North Korea is a "grave threat." He says, "We agreed that we would not accept a so-called freeze-for-freeze agreement like those that have consistently failed in the past."

China has not made a public disavowal of its past proposal.

Trump says the goal is to "denuclearize" North Korea.

He says time is running out and the U.S. has made clear "all options remain on the table."