foreign emoluments clause of the constitution. >> you can be president of the united states or you can be a tycoon, but you can't try to do both at the same time. >> reporter: the president today scoffed at the lawsuit. >> without merit. >> reporter: one of the goals of the lawsuit is to force trump to release his tax returns, which he had promised to do once an irs audit was completed. >> as soon as my routine audit is finished, i'll release my returns. i'll be very proud to. >> reporter: but now his aides say that may never happen. >> he's not going to release his tax returns. we litigated this all through the election. people didn't care. they voted for him. >> reporter: the president has said hotel profits from foreign governments will be given to the u.s. treasury. and today the white house revealed that the president last week resigned from all his companies. >> so we see the paperwork right there, and we heard the white house say just as you pointed out, he has resigned from his companies, but the people behind the lawsuit say that's simply not enough. >> he has turned over the management of his hotel and empire to his sons, but he is still the owner, and the people