Medvedev in a social media post suggested Trump should be wary of Russia's automatic nuclear strike capabilities and suggested the president watch "The Walking Dead" television series, The New York Times reported.
Trump called Medvedev's comments "highly provocative" and viewed them as a potential threat against the United States.
"I have ordered two nuclear submarines in the appropriate regions, just in case these foolish and inflammatory statements are more than just that," Trump said in a Truth Social post on Friday.
"Words are very important and can often lead to unintended consequences," Trump continued. "I hope that this will not be one of those instances."
Medvedev formerly was Russia's president from May 7, 2008, to May 7, 2012, and is the deputy chairman of Russia's Security Council.
Trump told reporters, "We just have to be very careful," as he was leaving the White House on Friday, ABC News reported.
"A threat was made by the former president of Russia," he said, "and we're going to protect our people."
Trump and his administration did not say when and where the submarines are being deployed or their military capabilities.
A White House official told ABC News the president was engaging in "strategic ambiguity" in the matter.
Medvedev earlier this week criticized Trump for reducing to 10 days the president's ultimatum to Russian President Vladimir Putin to show progress toward ending Russia's war against Ukraine.
"Trump's playing the ultimatum game with Russia: 50 days or 10," Medvedev said in a social media post, as reported by The Guardian.
"He should remember two things," Medvedev said. "Russia isn't Israel or even Iran," and "each new ultimatum is a threat and a step toward war" between the United States and Russia.
Medvedev cautioned Trump, "Don't go down the Sleepy Joe [Biden] road!"
Trump has accused Putin of stalling efforts to reach a cease-fire with Ukraine.
The president said he could end the war in Ukraine in 24 hours while he was campaigning last year.
Putin on Friday said he wanted a "lasting and stable peace" in Ukraine, but did not respond to Trump's ultimatum, according to The Guardian.
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