WASHINGTON — President Trump on Thursday rejected a proposal from budget hawks in the administration to curb foreign aid spending after objections from Secretary of State Mike Pompeo and lawmakers from both parties, officials briefed on the decision said.

The White House’s Office of Management and Budget, which since 2017 has been led by Mick Mulvaney, the acting White House chief of staff, had spent much of August working on the proposal. It would have imposed an estimated $4 billion of cuts to foreign aid funding this year from money that Congress had approved but that the State Department and the United States Agency for International Department had not designated yet for specific programs.

In recent days, members of Congress, Mr. Pompeo and Treasury Secretary Steven Mnuchin lobbied against the package, questioning the legality and effect of the move less than two months before the end of the fiscal year. Mr. Pompeo, Mr. Trump’s most trusted cabinet official, won a similar argument against the budget office last August.

The latest retreat is another instance in which the administration and Capitol Hill, confronted with a ballooning deficit and national debt after the most recent round of tax cuts, have struggled to reach agreement over how to rein in government spending. A senior administration official, speaking on the condition of anonymity, said that the proposal was motivated by the president’s desire to trim the amount of money dedicated to foreign assistance, a tiny slice of the federal budget but one that conservatives have long targeted as unnecessary.