Trump made the announcement in tweets on Friday, blaming a $92 million price tag as well as “local politicians” opposing the now-cancelled November 10 parade, which would honor US military veterans and commemorate the 100th anniversary of the end of World War One.
The US president pointed the finger of blame at “local politicians who run Washington, D.C. (poorly)” for the delay, saying the cost was “ridiculously high” and that they “know a windfall when they see it.”
Trump said he would instead attend a parade at Andrews Air Force base in Maryland and then go to the French capital of Paris for events on November 11 to commemorate Armistice Day.
The US Defense Department had earlier said in a statement that the military parade requested by Trump had been called off until next year.
"The Department of Defense and White House have been planning a parade to honor America's military veterans and commemorate the centennial of World War I," Pentagon Spokesman Colonel Rob Manning said in a press release. "We originally targeted November 10, 2018 for this event but have now agreed to explore opportunities in 2019."
In February, Trump called on the Pentagon to explore a parade in celebration of American troops, after the Republican president was impressed by the Bastille Day military parade he attended with French President Emmanuel Macron in Paris last year.
The request sparked a strong public reaction, particularly regarding a White House estimate earlier this year that the parade would cost US taxpayers between $10 million and $30 million.
The Thursday announcement came hours after the Defense Department released an updated cost estimate for the planned parade, which put the price tag for the event at $92 million, including $50 million from the Pentagon and $42 million from the Department of Homeland Security.
The larger price tag highlighted by the federal government agencies was necessary to get the aircraft and other military equipment to the parade, to ensure security and to pay for the troops to be present, among other costs, according to the Pentagon.
Critics of the parade and Trump's political opponents say Washington should not spend money on a costly display of troops and weapons when the Pentagon is struggling to cover the expenses of training, support and personnel.
Military parades in the United States are generally rare. Such parades in other countries are usually staged to celebrate victories in battle or showcase military might.
The last US military parade was in 1991, when tanks and thousands of troops paraded through Washington to celebrate the ousting of Iraqi forces from Kuwait during the reign of former Iraqi dictator Saddam Hussein.