President Donald Trump on Wednesday defended the more than US$1 billion he reported in business losses between 1985 and 1994, a previously undisclosed amount revealed in a New York Times investigation, as a best practice that other real estate developers had also used.

Yet even as he tried to explain in a pair of Twitter posts that showing "losses for tax purposes" was considered a "sport" among real estate developers like himself, the president also said The Times' account was "a highly inaccurate Fake News hit job!"

It was not immediately clear what specifically in The Times investigation Trump disputed.