No, he called the emoluments clause itself phony. The full quote
"I don't think you people, with this phony Emoluments Clause — and by the way, I would say that it's cost anywhere from $2 billion to $5 billion to be president," Trump said during a Cabinet meeting at the White House.
This isn’t about Ukraine, this is about the G7, and it was a flagrant and obvious violation of the emoluments clause. Trump should’ve owned up to it but instead blamed Democrats and the media for his reason for backing down. Bullshit. When has Trump ever backed down from Democrats and the media? And, if he did, doesn’t that make him a weak President?