During the Fox interview, Trump also lamented Attorney General Jeff Sessions's inability to gain "control" over the Justice Department, the practice of prosecutors "flipping" criminal defendants and illegal immigration.
"I don't know how you can impeach somebody who's done a great job", Mr Trump told Fox and Friends.
Cohen's attorney Lanny Davis says Trump ordered his client to make hush-money payments to porn star Stormy Daniels and Playboy model Karen McDougal to keep them quiet about alleged affairs, which he argues makes the president similarly guilty of a felony.
The legal risk to Trump is the timing and goal of 2016 payments to porn actress Stormy Daniels and Playboy model Karen McDougal.
Trump claimed his former lawyer "made the deals", and insisted that Cohen's actions were "not a crime", while going on to claim that "campaign violations are considered not a big deal, frankly".
Although the charges didn't involve collusion between Russian Federation and the Trump campaign, they were brought by the office of Special Counsel Robert S. Mueller III, the respected former Federal Bureau of Investigation director whom Trump has defamed as "disgraced and discredited".
NY state investigators reportedly have issued a subpoena to Michael Cohen as part of the Trump Foundation probe; Laura Ingle reports.
Michael Cohen, longtime personal lawyer and confidante for President Donald Trump, exits the United States District Court Southern District of New York, April 16, 2018 in New York City.
Trump praised Manafort as "a fearless man!" raising speculation the former campaign operative could become the recipient of a pardon as he argues the prosecution was an overreach by the Justice Department.
Trump allies have also pointed to the unsuccessful prosecution of 2008 presidential candidate John Edwards, who was accused in a similar hush-money scheme.
"If I ever got impeached, I think the market would crash".
As Donald Trump warns the U.S. will be left in financial ruin if he is impeached, The Press and Journal takes a look at how this scenario became a possibility.
Correspondents say it is unlikely Mr Trump's opponents would try to impeach him before November's mid-term elections.
Many legal and political observers expect Trump to eventually pardon Manafort, whose case was the first to be brought to trial by Robert Mueller, the former director of the Federal Bureau of Investigation, whose team repeatedly has been heavily criticized by the president. "I think everybody would be very poor", Mr Trump told Fox News.
Davis then wrapped up the "Skullduggery" interview by saying: "Being on this podcast and being asked questions, especially by Michael Isikoff, no offense intended, is the functional equivalent of a root canal without anesthetics".
Impeachable offenses are vaguely defined in the Constitution as "high crimes and misdemeanors" and, in practical reality, are up for Congress to decide.
Even if the payments were meant to influence the election, some legal scholars have argued that campaign finance violations are typically enforced through civil penalties and do not amount to a high crime or misdemeanor.