However, CNBC reported that the expected cost had risen to $92 million.
Trump tweeted early Friday that the price he was given for the parade "was so ridiculously high" that he canceled it.
"Maybe we will do something next year in D.C. when the cost comes WAY DOWN," Trump tweeted. "Now we can buy some more jet fighters!"
President Emmanuel Macron of France is hosting world leaders in Paris on Nov. 11 to celebrate the anniversary, CNN reported. Trump said he was inspired to host a similar parade in Washington after viewing the Bastille Day parade in Paris in 2017, CNN reported.