For his part, Trump said Griffin "should be ashamed of herself", adding that his children - especially his 11-year-old son Barron - are "having a hard time" dealing with the bloody images.
Griffin apologized on Instagram on Tuesday for the photo that some say encouraged violence against the President.
In her second, subsequent apology video, Griffin begs her fans for forgiveness and says she has asked the photographer to remove the images. "I went way too far", Griffin said.
Earlier Tuesday, Shields, who is known for his provocative images, released photos he did with Griffin that immediately came under fire from people on Twitter.
The announcement was made in a tweet saying the cable news network had terminated its agreement with Griffin.
CNN, whose New Year's Eve coverage Griffin has co-hosted, called the images "disgusting and offensive".
Squatty Potty, a line of footstools for toilets, said Tuesday it was "shocked and disappointed" and was pulling a new ad campaign starring Griffin.
The president's son, Donald Trump Jr, and First Lady Melania Trump also weighed in.
"You're still going to appear with her?"
The photographer told the New York Daily News that "when you make art, you can do anything you want". I went too far. I've made a lot of mistakes in my career, I will continue.