Trump asked for the "favor" of the investigation of Joe Biden and his son when Zelensky mentioned the military aid.
Trump didn't wear a face mask during the news conference but all of the reporters asking Trump questions on Monday were wearing face masks.
Trump has called the killing a botched operation that was carried out very poorly and has said "the cover-up was one of the worst cover-ups in the history of cover-ups." But he has resisted calls to cut off arms sales to the kingdom and has been reluctant to antagonize the Saudi rulers. Trump considers the Saudis vital allies in his Mideast agenda.
Treasury Secretary Steven Mnuchin said the program was intended to help small companies hit hard by the pandemic that couldn't tap the debt and equity markets or credit lines at major banks.
Tropical Storm Tembin started lashing parts of the island of Mindanao on Friday, triggering massive floods and mudslides in the region which left more than 160 people dead.
Trump terminated that program in September last year, while asking Congress to come up with a legislative replacement until March 5.
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Trump is to make the announcement in a 4 p.m. EST (2000 GMT) speech.
Trump to order priority access to US COVID-19 vaccines for Americans - World - Chinadaily.com.cn
Trump last week called for a "tougher" travel ban after a bomb partially exploded on a London subway.
Trump said he decided to ground the aircraft after meeting with Transportation Secretary Elaine Chao. He said the decision to ground the 737 MAX planes was made because of new information about Sunday's crash in Ethiopia, which killed 157 people on board an Ethiopian Airlines 737 MAX 8. The FAA said new evidence had been collected at the site of the crash on Wednesday, and that information - along with new satellite data - led to the grounding decision.