The US president says it is "another in a very long line of National Security reasons why Greenland has to be acquired".
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In a post on social media, Trump labelled the move as an "act of great stupidity" and "total weakness", months after he and senior US officials endorsed it.
In response, the UK government said it would "never compromise on our national security", while the prime minister's official spokesperson insisted the US still supported the move.
The UK signed the £3.4bn ($4.6bn) agreement in May, under which it would retain control of a UK-US military base on the largest of the islands, Diego Garcia.
In a post on his Truth Social platform on Tuesday morning, Trump said: "Shockingly, our 'brilliant' NATO Ally, the United Kingdom, is currently planning to give away the Island of Diego Garcia, the site of a vital U.S. Military Base, to Mauritius, and to do so FOR NO REASON WHATSOEVER.
"There is no doubt that China and Russia have noticed this act of total weakness."
He added: "The UK giving away extremely important land is an act of GREAT STUPIDITY, and is another in a very long line of National Security reasons why Greenland has to be acquired."
Responding, the prime minister's official spokesman said that the US supports the deal and "the president explicitly recognised its strength last year".
He added that it was also backed by the UK's Five Eyes allies, the other members of which - besides the UK and US - are Canada, Australia, and New Zealand.
Asked if he could categorically say the Chagos deal would go ahead, even though it is still going through Parliament, the spokesman said: "Yes. Categorically, our position hasn't changed."
Earlier, a UK government spokesperson said it had acted "because the base on Diego Garcia was under threat after court decisions undermined our position and would have prevented it operating as intended in future".
They added that the agreement had secured the operations of