The president told reporters outside the White House that he was "invited" by Russian President Vladimir Putin and is "thinking about" attending the procession, which commemorates the end of the Second World War with a display of the country's military might.
Not to be confused with May Day parades, the Moscow Victory Day Parade on 9 May 2020 will mark the 75th anniversary of the fall of Nazi Germany on the war's Eastern front.
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Kremlin spokesman Dmitry Peskov said Mr Trump had been invited earlier this year.
Mr Peskov told reporters that Mr Trump had reacted positively to the invitation.