Trump hailed the summit, which took place in Singapore, as a success and even went as far as to declare that the nuclear threat from North Korea was over, but Pyongyang has given no indication that is willing abandon its arsenal unilaterally.
Trump tweeted that he does not believe China is helping with the effort to reign in North Korea because of Washington's escalating trade war with Beijing.
Pompeo, who would have been making his second visit to Pyongyang since the summit, had not been due to meet Kim this time.
Trump also put the blame on China, North Korea's biggest trading partner. "It's just North Korea that has not taken the steps we feel are necessary to denuclearize". "I look forward to seeing him soon!", Trump said.
Trump blamed a lack of "sufficient progress with respect to the denuclearization of the Korean Peninsula" for the trip's cancellation.
Pompeo on Thursday appointed a senior executive with the Ford Motor Co.to be his special envoy for North Korea and said the two would visit next week.
Post-summit nuclear talks got off to a rocky start, with North Korea accusing the USA of making "gangster-like" demands regarding denuclearization.
Interested in North Korea?
In Friday's tweets, Trump didn't rule out future talks.
Donald Trump has, for the first time, acknowledged that his landmark meeting with Kim Jong-un has not produced tangible outcomes.
The latest assessment of North Korea's nuclear program released by the International Atomic Energy Agency calls into question Pyongyang's commitment to denuclearization amid ongoing activities at certain sites in the country and the inability for IAEA inspectors to access those sites.
White House officials did not immediately comment on what prompted Trump to call off Pompeo's trip. Pompeo and other officials have said sanctions will remain on North Korea until denuclearization has been completed and verified but have suggested that other confidence building measures are possible before then.
Christopher Hill, a former US ambassador to South Korea who led past failed negotiations with North Korea, tweeted: "Looks like @realDonaldTrump has begun to worry about #NorthKorea intentions".
Although notable progress of the dismantling of key structures at the Sohae facilities - located in North Pyongyang Province - was observed between July and early August, "work on the rail-mounted transfer/processing building appears to have stalled", the website said.
The extent of China's willingness to help pressure North Korea and how much leverage it actually holds over Pyongyang has always been a key question for US policymakers.