Though Trump and Putin often speak warmly of each other, their countries are increasingly at odds when it comes to issues like foreign policy and meddling in the 2016 US election.
The announcement of the meeting had followed after Mr Putin met US National Security Adviser John Bolton, who was in Moscow this week to lay the groundwork for the summit.
Bolton then defended Trump's "we'll see" comment, noting that the President often uses that term to show "that he's willing to talk to foreign leaders about a range of issues and hear their perspective". "It was stated clearly by our side that the Russian state hasn't interfered with the US domestic politics, moreover hasn't interfered in the 2016 election", Putin aide Yuri Ushakov said after meetings with Bolton last week.
He said Putin said: "There was no meddling in 2016 by the Russian state". "I think the president will have a conversation about this and say, 'We don't want to see meddling in the 2018 election".
"We are now in a state of confrontation with the United States", said Dmitry Suslov, deputy director of the Center for Comprehensive European and International Studies at the National Research University Higher School of Economics.
In an interview on CBS News' "Face The Nation", Bolton reacted to Trump remarking Friday the administration is "going to have to see" if it'll accept Russia's claim on territory it seized from Ukraine in 2014. The president also said he didn't see a problem with having good relationships with Russian Federation and China.
Trump has previously denied that Russian Federation influenced the 2016 election, despite an assessment from US intelligence agencies confirming some degree of interference.
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"What trouble did we cause?" he asked.
Trump and Putin are slated to meet July 16 in Helsinki, Finland, at the end of Trump's scheduled trip to Europe to attend a summit with North Atlantic Treaty Organisation allies and stop in the United Kingdom.
Suslov said that an unacceptable "pre-war situation" has developed in Russia-U.S. relations.
"We might be talking about some things President Obama lost..."
Accepting that Crimea is never to return to Ukrainian control would be a major concession to Russian Federation, which is languishing under tough worldwide trade sanctions over its actions. "We have to deal with Russian Federation".
The analyst went on to say Americans viewed the alleged hacking as "aggression against the country" and believed the Russian government "caused some trouble there".