Emoluments clause is 'phony': Trump

President Trump made the statement as he defended his now-rescinded decision to host next year's Group of Seven summit at his Doral resort in Miami.
2:23 | 10/21/19

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Transcript for Emoluments clause is 'phony': Trump
The route was a very simple challenge. I ought to property and I was gonna put it on course were given free if I got a ruling that this is a question as to whether or not you're about to give because it's like contribution to find have to get a ruling. But I would've given it for nothing. His Miami. This facility everybody would have had the road building everybody in the geez. It was so good Florida loved it they love economic development. It's it's that because it's at its beautiful place it's new it's been totally rebuilt its everything is at best of meeting rooms. Unlimited for security because it's on. You know hundreds of acres. Best location. Right next to the at what Miami international one of the biggest airports in the world. Of innocence a peaceful one of the biggest airports in the world only minutes away. It would have been yet but the Democrats. What praise even though would have done that phrase. Save the country a Lotta money it would have been the greatest she seven ever. And I would've. Sick to my family as they run my business I don't remind it is actually put all the stuff and trusts. They read what I didn't have to do that but under no obligation you know I don't know you know George Washington he ran his business simultaneously while it was us. Many other presidents or weren't too many rich presence but that work is derivative bosses. Say. Obama made a different book is that running a business. I'm sure he didn't even discuss. Expresses. His ability that lets whether they stepped up at about that that's only. In a couple of examples. But. Other presidents if you look. Of the process were well. Not huge well George Washington was actually considered a very very rich man at the time. But they ran dentists George Washington there's an to a desk Seattle presidential that's gonna business sense. I don't think you people in this podium monuments laws and by the way. I would say that its cost anywhere from two to five billion dollars to address and that's okay between. What I lose at what I could have made a would have made a fortune. If I just read my business has done it. Really well I think I have a great business had the best and.

This transcript has been automatically generated and may not be 100% accurate.

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