An announcement could be made tomorrow, an administrative source told CNN.
The treaty that was signed in 1992 allows member countries to conduct short-notice, unarmed reconnaissance flights over the countries of others to collect data on military forces and activities.
It was part of a large network of arms control agreements intended to ensure stability and predictability on the European continent and to reduce the risk of misunderstandings which could escalate into conflict by ensuring transparency.
European allies, who have lobbied for the U.S. to remain in the treaty, see it as a central part of their security infrastructure and the U.S. decision to withdraw will likely add to the tension in transatlantic relations, according to analysts.
The president and many officials in his administration have criticized the idea that the United States should be bound by international agreements. But analysts said the rejection of another deal could worsen global instability.
The Trump administration has already pulled out of a mid-range nuclear forces treaty and set the conditions for renewing the last nuclear weapons pact with Russia - the new starting treaty - that experts and analysts say everything but guarantee that it will not be extended.
The Open Skies Treaty is part of "a set of strengthening documents that create stability and predictability in Europe and around Europe," said Jon Wolfsthal, director of the Nuclear Crisis Group at Global Zero. "Trump and his advisers have systematically destroyed these agreements in part because of Russian non-compliance, but when you look at Trump's approach, it is" tearing it down and putting nothing in its place and sometimes making it more difficult for people "to put anything else in its place."
"This is the general neglect of a proven tool for securing American and allied interests," said Wolfsthal.
The United States has accused Russia of not complying with the treaty. In early March, Amb. Jim Gilmore, the US ambassador to the Organization for Security and Cooperation in Europe (OSCE), said the administration was looking for "reciprocity" from Moscow on the deal.
"We believe that we must strictly hold the Russians to account for the Open Skies treaty," he said. "The president's policy is that, in all treaties, there must be reciprocity. If we are to adhere to them strictly - to our treaty obligations, we expect the Russians to strictly adhere to their treaty obligations."
In the past, the United States has also accused Moscow of imposing restrictions on flights near its enclave of Kaliningrad, an area between Poland and Lithuania where the Russian army maintains a strong presence.
According to the State Department, the treaty "is designed to build mutual understanding and trust by giving all participants, regardless of their size, a direct role in collecting aerial imagery information about the military and activities that affect them. "
Trump signed a document last year signaling his intention to withdraw, according to people familiar with the decision, but discussions were still ongoing at the time.
European nations, including Ukraine, have lobbied to preserve the treaty, viewing it as an integral part of their national security. Some analysts say the treaty, which was designed to build confidence that countries don't plan an attack, was a key factor in Russia's decision to invade Ukraine with a smaller, less noticeable military force from the air.
European nations say any dispute over Russia's compliance should be resolved through negotiations. Trump's former national security adviser John Bolton, a longtime skeptic of arms control agreements, and his allies in the administration have challenged Russia's declarations of conformity. Before leaving office, he urged Trump to sign the document signaling the intention of the U.S. to withdraw, two U.S. officials said.
CNN's Jennifer Hansler contributed to this report.
