US President Donald Trump has announced he will file a $US15 billion ($22 billion) lawsuit against The New York Times , alleging defamation and libel, and accusing the outlet of being a "virtual mouthpiece" for the Democrat party.

Trump had threatened last week to sue the Times after it published articles related to a sexually suggestive note and drawing that was given to disgraced financier Jeffrey Epstein for his 50th birthday in 2003 and appears to have been signed by Trump.

Trump and his aides have denied that he was involved in the creation of the note.

In a post overnight on his social media platform, Truth Social, the president accused the Times of making false statements about him, his family and his businesses, though he did not elaborate on the allegations.

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