President Trump also said he isn't anxious about Cohen or his cooperation with the Special Counsel.
Cohen falsely told Congress that plans for a Moscow tower ended in January 2016, before "the very first primary" of the election cycle.
Trump told reporters outside the White House he had decided not to build the building in Moscow, although he did not specify when he decided against pursuing the project.
Mr Trump said his former right-hand man was "lying" to seek a reduced sentence.
Cohen told the court he lied to Congress about Trump's Moscow tower in order to be consistent with his former boss's political positions.
Cohen's new guilty plea comes at a particularly perilous time for Trump, whose presidency has been threatened by Cohen's statements to investigators. A meeting with Chinese President Xi is also on the agenda and Trump said he is "very close" to striking a new deal, but also that he likes the "current deal".
According to the plea deal, Cohen sent a letter to the House and Senate Intelligence Committees related to plans to build a Trump Tower in Moscow on August 28, 2017.
In a statement, Trump attorney Rudy Giuliani said Trump was asked about the Moscow development in written questions from the Mueller team.
Although these court documents used pseudonyms like "individual 1" and "the Company", the fact that Cohen was listed as "special counsel" to Individual 1 who owned the Company, the plea deal clearly referred to President Trump and the Trump Organization.
"There would be nothing wrong if I did do it", he said.
Wedding festivities begin for Priyanka Chopra, Nick Jonas with puja
As per reports that are doing the rounds, Shruti's wedding will be a two-day affair with sangeet and mehendi functions. Both were seen in black sunglasses as Priyanka waved at the paparazzi when she came out of the vehicle .
Cohen has already provided Mueller with more than 70 hours of testimony, which could be potentially damaging to Trump, according to ABC News.
Trump denied in April that he knew anything about Cohen's payments to Daniels, though the explanation from the president and his attorney Rudy Giuliani have shifted several times.
Cohen allegedly asked Trump directly if he would travel to Russian Federation to pursue the project, and reached out to "a senior campaign official about potential business travel to Russian Federation".
Cohen worked as a top lawyer to Trump and his real estate company for a decade.
Cohen worked on the deal with Felix Sater, a Russian-born developer and USA citizen, who served as a deal broker on the project. "Michael Cohen is a liar", said Trump lawyer Rudy Giuliani. His work has also appeared in Salon, Raw Story, Truthdig, National Memo, Philadelphia Weekly, Democratic Underground, L.A. Weekly, MintPress News and many other publications.
Trump said on Wednesday he had not ruled out granting a pardon to Manafort, who has pleaded guilty in Mueller's investigation to a range of federal charges from money laundering to unregistered lobbying.
Trump was emphatic that Cohen was "lying", but it is unclear what he believes Cohen is lying about. He said sentencing in the case is scheduled for December 12.
Russian President Vladimir Putin's spokesman said in August 2017 he had received an email in January 2016 from Mr Cohen about a Moscow real estate project, but said he had neither replied nor discussed it with Mr Putin.
Trump has increasingly been lashing out at the Mueller investigation, calling it an "illegal Joseph McCarthy style Witch Hunt" that has "shattered so many innocent lives".