No, whether you can skip trailers is dependent on the disc author. I can skip most trailers, but I have found a few Chinese DVDs that slap like 5 intermediate imported by/produced by/etc screens on and disable skipping. Then, I had a few paramount DVDs that have trailers before the main menu which cannot be skipped by any combination of buttons, however you can fast forward them.
Now, if you have a hacked DVD player or one with easter eggs/backdoors, you can get around this. But there are many poorly authored DVDs that force you to sit through advertising. (not to mention bad DVDs which don't have any chapters. I have an Elmo DVD that I let my son watch once in a while. He only likes one of the Elmo skits on it, but the entire DVD is one 30 minute chapter, even those it consists of like 6 different "episodes". There is no chapter menu. If you skip, it jumps to the end of the whole DVD. And yes, it is a DVD not a VCD)
I have that problem too, what you can do however is legally make a backup copy of anything media you own, so what you could do is copy it onto another DVD but remove the trailers and FBI/copyright warning crapola. You'll probably ask, 'why bother?" To which I'd say, if it's a movie that's one of your favourites you watch fairly often, then it'd definitely be worth thinking about, to get rid of those little annoyances.