Trump was not sure whether the summit would actually take place as scheduled and did not want to allow Kim the possibility to knock him first, the outlet reported citing multiple sources.
Active discussions on the issue began at the White House on Wednesday night and continued on Thursday morning, according to the report.
Defense Secretary Jim Mattis was not involved in the discussions in the beginning, but Trump called him to join before reaching a decision.
On Thursday, Trump sent a letter to Kim announcing his decision to cancel the summit. Trump cited anger and hostility in recent statements by Kim as a reason for pulling out of the highly anticipated meeting.