Trump gave no elaboration as to how the clause from the Constitution that he has sworn to uphold is phony. The clause, from Article I, Section 9 of the Constitution reads,

No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince or foreign State.

Trump has also said that Article II of the Constitution gave him “the right to do whatever I want.”

The emoluments remark came two days after he reversed his decision to host the 2020 G-7 meeting at his Doral, Florida golf resort amid widespread media and political backlash.

The claim was part of a larger statement that that evokes the infamous “having nuclear” speech. In it, Trump said no other President gave up his salary and boasted about his prowess at real estate and his financials, despite never having released tax returns as promised. He complained about Obama’s book and Netflix deals and claimed that being President has already cost him $2 to $5 billion dollars.

Trump reiterated that he had placed his private interests in trusts, referencing when he claimed that he divested himself from potential conflicts of interest using stacks of unlabeled folders as proof.

He then launched into a deviation about rallies that echoed other remarks on setting greater records than Elton John, attacked Nancy Pelosi and Chuck Schumer, and claimed that Obama failed to solve the North Korea problem because of a lack of respect, unlike what they had for Trump and he had for them.

Law and Crime – The President of the United States Just Called the Emoluments Clause of the Constitution ‘Phony’
The New York Times – Trump Dismisses ‘Phony Emoluments Clause,’ Defending Doral
C-SPAN – Trump Administration Cabinet Meeting
The Washington Post – Fact-checking Trump’s wild Cabinet session