We’re still not seeing the full context. I assume this was part of a wider conversation about the role of race in politics.

He’s making the point that a president’s actions matter more to voters (specifically black voters in this case) than a president’s race, which isn’t a bad point. (And I guess that’s what the audience is cheering for.)

I’m not a fan of Trump, but I’m also not a fan of taking things out of context.