The president raised eyebrows for heaping praise on Putin during the campaign, but denied having a "relationship" with the Russian leader.
On Monday, a spokesperson for the Kremlin said that Russia was ready to attend a full-scale meeting -- the first since Trump has taken office -- in addition to any interactions the pair would have at the summit.
"I have no relationship to -- with him. I have no relationship with him," said Trump, later continuing, "He said something nice about me. This has been going on. We did 60 Minutes together. By the way, not together-together, meaning he was probably shot in Moscow… and I was shot in New York."
"I have never spoken to him on the phone," added Trump.
Since Trump's inauguration, he and Putin have shared three phone calls.
The meeting comes amid heightened tensions between the U.S. and Russia over the situations in Ukraine and Syria, and with Trump casting new scrutiny on his predecessor, President Barack Obama, for not doing enough to counter Russian election meddling.
When asked whether the president would bring up Russia's interference in the election with Putin at their meeting, McMaster said there is "no specific agenda" yet, and that Trump will address what he chooses.