President Donald Trump on Monday said the emoluments clause is "phony," but it's enshrined in the US Constitution.

The foreign emoluments clause bars public officials from receiving gifts or cash from foreign governments without congressional approval.

Several lawsuits against Trump accuse him of violating the Constitution in this regard by profiting from the presidency.

The subject has come up again in relation to Trump's ultimately canceled move to hold the next G7 summit at his Trump National Doral Miami resort.

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President Donald Trump on Monday misleadingly suggested that the emoluments clause is "phony" as he continues to face criticism over his ultimately canceled move to hold the next G7 summit at one of his properties.

"You people with this phony emoluments clause," Trump told reporters.

The foreign emoluments clause is, however, is enshrined in Article I, Section 9, Paragraph 8 of the US Constitution. The provision bars public officials from receiving gifts or cash from foreign governments without congressional approval.

It says: "No Person holding any Office of Profit or Trust under [the United States], 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."

There is also a domestic emoluments clause that prohibits the president from receiving money from the US government other than an annual salary.

It says: "The President shall, at stated Times, receive for his Services, a Compensation, which shall neither be encreased nor diminished during the Period for which he shall have been elected, and he shall not receive within that Period any other Emolument from the United States, or any of them."

Taken together, the emoluments clauses essentially prohibit the president from profiting from their office via foreign or domestic governments.

Read more: Trump made $40.8 million last year from a hotel that critics say he's using to illegally profit from the presidency

This topic has repeatedly come up in relation to Trump's refusal to divest himself of his business empire. Trump broke from past presidents by maintaining ownership of his businesses and not placing his assets in a blind trust, which critics say has presented a conflict of interest.

Several lawsuits against Trump have accused him of violating the Constitution — zeroing in on the emoluments clause — by profiting from the presidency.

Trump faced further criticism last week after the White House announced he would host the next G7 summit at his Trump National Doral Miami resort. The announcement sparked bipartisan outcry, and Trump dropped the plan within roughly 48 hours.

Trump blamed Democrats and the media for his reversal, but reports suggest it was anger from congressional Republicans.