Trump cites 'great success' of G-20 meeting, but postpones press conference in the wake of former president George HW Bush's death

Key Points
  • George H.W. Bush died late Friday evening.
  • President Donald Trump has designated December 5 as a national day of mourning, and will attend the funeral.
  • Trump will postpone a press conference that was set to follow a meeting of the 20 largest industrialized nations in the world.
President Donald Trump speaks to reporters before walking to Marine One on the South Lawn of the White House November 29, 2018 in Washington, DC. 
Brendan Smialowski | AFP | Getty Images

President Donald Trump postponed a Saturday press conference designed to tout the "great success" of the Group of 20 meeting in Argentina, citing the death of former president George H.W. Bush.

Via Twitter, the president said in Buenos Aires that he would wait until after his return to the United States to brief the press on the outcome of the confab between the world's largest industrialized nations.

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The president's move came as markets were hopeful about a detente, or at least signs of progress, between the U.S. and China on trade. Trump and Chinese President Xi Jinping met at a rescheduled dinner, at which Xi reportedly told the president that the two countries should cooperate more and bolster ties

G-20 leaders have agreed to address reform in the World Trade Organization (WTO), maintain current efforts on climate change, and progress taxation of the digital economy. However, the group sidestepped "taboo words" in drafting the communique that referenced protectionism or unfair trade practices. This was seen as important given the ongoing tensions between the United States and China.

George Bush waves to supporters Nov. 5, 1988, three days before he was elected to the White House.
Cynthia Johnson | Liaison | Getty Images

The nation's 41st president died on Friday at the age of 94, and Trump designated December 5 as a national day of mourning. Despite Trump having risen to power railing against the Republican establishment embodied by Bush, the president and First Lady Melania Trump will attend a state funeral that will be held in the nation's capital.

--CNBC's David Reid contributed to this article.