"The resolution being considered at the United Nations Security Council regarding Israel should be vetoed," Trump said in a statement, ahead of the Egypt-drafted resolution coming up for voting before the 15-membered body of the United Nations.
The resolution demands Israel immediately halt its settlement activities in the Palestinian territories and east Jerusalem.
A similar resolution was vetoed by the US in 2011.
"As the United States has long maintained, peace between the Israelis and the Palestinians will only come through direct negotiations between the parties, and not through the imposition of terms by the United Nations," Trump said.
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Earlier, the Israeli Prime Minister Benjamin Netanyahu had urged US to veto the resolution.
"The US should veto the anti-Israel resolution at the UN Security Council on Thursday," he tweeted.
The Israeli Ambassador to the UN Danny Danon alleged that the proposed resolution is the "peak of hypocrisy".
It will do nothing to promote a diplomatic process, and will only reward the Palestinian policy of incitement and terror, he said.
"Over the past months, we have waged a diplomatic effort urging the Council members to reject such a resolution," Danon said.
"We expect our greatest ally not to allow this one-sided and anti-Israel resolution to be adopted by the Council," he said.
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