The CNN journalist at the White House on Wednesday engaged in a tense tug-of-war with Trump, who after answering several of his questions, said "That's enough. Put down the mic... I tell you what, CNN should be ashamed of itself, having you working for them. You are a rude, terrible person."
A White House aide immediately approached Acosta and unsuccessfully tried to grab the microphone from him, Efe news reported.
Hours later White House spokeswoman Sarah Sanders tweeted: "As a result of today's incident, the White House is suspending the hard pass of the reporter involved until further notice."
Acosta was asked by an agent of the US Secret Service for his accreditation after leaving the presidential building, according to a video of the moment shared by the journalist on Twitter.
"President Trump believes in a free press and expects and welcomes tough questions of him and his administration.
"We will, however, never tolerate a reporter placing his hands on a young woman just trying to do her job as a White House intern. This conduct is absolutely unacceptable," is, however, the explanation given by Sanders.
"The fact that CNN is proud of the way their employee behaved is not only disgusting, it's an example of their outrageous disregard for everyone, including young women, who work in this administration," she said in a statement.
In response, Acosta said, "This is a lie."
The permanent credential allows a select group of journalists to freely enter and leave the White House and cover the president's day-to-day life.
The incident that triggered the White House decision on Acosta had occurred during the press conference in which Trump assessed the results of Tuesday's midterm elections.