But comedians on the late-night TV circuit were quick to point out that Trump's promise came just days after he made a failed attempt to stop the publication of Michael Wolff's tell-all book, "Fire and Fury: Inside the Trump White House".
"Somebody said to me on that, they said, 'You know, it's a great idea softening up those laws, but you may get sued a lot more, '" Mr. Trump, who propagated false rumors that Barack Obama was born in Africa and that the father of Senator Ted Cruz had aided the assassination of John F. Kennedy, said at the time.
Publicly elected officials have a higher bar to meet because, unlike private citizens, statements made about them are probably a matter of public importance.
Trump also threatened to "open up" libel laws during the 2016 campaign.
He said the current laws do not represent American values, such as fairness.
Trump has said he could support a revised DACA bill in exchange for immigration reforms that would include a U.S./Mexico border wall. "If they were strong, it would be very helpful".
Awkward: Trump praises Martin Luther King, Jr. after his racist comments
Trump reportedly described the homelands of migrants arriving in the U.S. as "sh*tholes" while at the White House on Thursday. The New York Times later reported the same comment , citing unnamed people with direct knowledge of the meeting.
Trump's longtime personal lawyer, Michael D. Cohen, filed a defamation lawsuit against BuzzFeed News for publishing, last January, a salacious and mostly unsubstantiated intelligence dossier that purported to describe how Russian Federation had aided the Trump campaign.
The singer previously suggested she would if Trump became president.
Trump has floated changes to libel statutes in response to negative media coverage in the past, saying as recently as October that it's "disgusting the press is able to write whatever it wants to write".
He also pledged during his presidential campaign to "open up" libel laws "so when they write purposely negative and terrible, false articles, we can sue them and win lots of money".
They wouldn't cease and desist, so now President Trump is targeting libel laws in an effort to silence his critics.
In the 1964 case New York Times v. Sullivan, the court found that a journalist who published erroneous information about a public figure without knowing it was wrong was constitutionally protected.