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In a video message posted on Twitter, he asked lawmakers to “remove wasteful and unnecessary items”, adding that the package “really is a disgrace”.
“It’s called the Covid relief bill, but it has almost nothing to do with Covid,” he said.
The $900bn bill includes one-off $600 payments to most Americans.
On Tuesday, Joseph Biden said the bill was a merely “down payment” and vowed he would press lawmakers to pass another stimulus bill after he enters office next month.
“Congress did its job this week,” the Democrat said, speaking from his hometown of Wilmington, Delaware, “and I can and I must ask them to do it again next year.”
Mr. Trump had been expected to sign the sprawling legislation into law following its passage through Congress on Monday night.
But in Tuesday night’s message from the White House, the Republican president baulked at spending in the bill on other countries, arguing that the money should go to struggling Americans.
He said: “Congress found plenty of money for foreign countries, lobbyists and special interests, while sending the bare minimum to the American people who need it. It wasn’t their fault. It was China’s fault.
“I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000 or $4,000 for a couple.