Trump: Impeachment will be 'a positive for me in the election'

President TrumpDonald John TrumpTrump says he will 'temporarily hold off' on declaring Mexican drug cartels as terror organization House Judiciary Committee formally receives impeachment report Artist behind gold toilet offered to Trump sells banana duct-taped to a wall for 0,000 MORE on Tuesday expressed defiance at the news that Speaker Nancy PelosiNancy PelosiHouse Judiciary Committee formally receives impeachment report Overnight Energy: Pelosi vows bold action to counter 'existential' climate threat | Trump jokes new light bulbs don't make him look as good | 'Forever chemicals' measure pulled from defense bill Overnight Health Care — Presented by Johnson & Johnson – House progressives may try to block vote on Pelosi drug bill | McConnell, Grassley at odds over Trump-backed drug pricing bill | Lawmakers close to deal on surprise medical bills MORE (D-Calif.) intends to announce a formal impeachment inquiry into him, suggesting it could benefit him politically.

"The country's doing the best it's ever done, and I just heard she'd like to impeach," Trump told reporters during a meeting with the Iraqi president at the United Nations, calling the move a "continuation of the witch hunt."

"If [Pelosi] does that, they all say that's a positive for me in the election," he said. "You could also say who needs it. It's bad for the country."

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Trump questioned how Pelosi could move forward on impeachment before the release of a transcript of his call with the Ukrainian president in which Trump reportedly pressed for an investigation into former Vice President Joe BidenJoe BidenHouse Judiciary Committee formally receives impeachment report Democratic strategist: 'Medicare for All' exposes generational gap within party Yang expands campaign with senior hires for digital operations MORE or his son Hunter Biden.

"By the way, she hasn't even seen the phone call. The phone call was perfect," Trump said.

Later Tuesday, Pelosi is set to announce plans to launch a formal impeachment inquiry into the president after months of resisting calls from her caucus to do so.

More than 150 Democrats support launching an impeachment inquiry or filing articles of impeachment against Trump as of Tuesday afternoon. Dozens of those lawmakers have come forward in the last 48 hours alone, citing Trump’s interactions with Ukraine.

The president has admitted that he brought up Biden, the Democratic presidential front-runner, and corruption during a July 25 call with Ukrainian President Volodymyr Zelensky. He has separately acknowledged that he held up military funding for Ukraine but argued he did so in an effort to secure higher contributions from France and Germany.

Trump has denied an explicit quid pro quo tying the funds to an investigation into Biden, but Democrats, including Pelosi, have said the president's efforts to solicit help from a foreign power to damage a political rival is sufficient proof of wrongdoing even in the absence of a bribe.

A transcript of Trump's call with Zelensky is expected to be released on Wednesday, though Democrats have said that is insufficient, calling for the release of a full intelligence community whistleblower complaint on the issue.

Support for impeachment has generally been well under 50 percent in polls throughout Trump's presidency. However, his disapproval ratings have hovered at or above 50 percent in many of those same surveys.