President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday, pledging an economic boom to a cheering crowd of traders and business leaders.
“We are with you all the way,” the Republican president-elect said from the New York Stock Exchange building in lower Manhattan. invited Since it became TIME.”person of the year” Second time.
As the bell rang, President Trump was flanked by Vice President-elect J.D. Vance, first lady-elect Melania Trump, New York Stock Exchange President Lynn Martin, and Trump’s two children, Ivanka. and Tiffany were standing next to each other.
Mr. Trump, who took office on January 20, was warmly and enthusiastically received by a large audience as he spoke of his plans to make the United States as attractive to business as possible.
Among the onlookers, goldman sachsdavid solomon, citygroupJane Fraser, verizonHans Westberg, Brian Cornell target and Bill Ackman of Pershing Square.
At one point, the room broke out into a chorus of “USA.”
President Trump’s inner circle includes Robert F. Kennedy Jr., his nominee for Secretary of Health, Scott Bessent, his nominee for Secretary of the Treasury, Doug Burgum, his nominee for Secretary of the Interior, and Howard Lutnick, his nominee for Secretary of Commerce. was.
In brief remarks beforehand, President Trump promised that his next administration would deliver “an economy like no one has ever seen before.”
“We’re going to give the wealthy crowd tremendous incentives that other countries don’t have,” Trump said, including “very significant” tax cuts.
President Trump reiterated his plan to boost U.S. oil drilling, promising that doing so would lower inflation and lower food prices.
That assertion contrasted with what he told Time magazine when asked whether his administration would fail if food prices remained high.
Trump told the magazine: “I don’t think so. Look, they got them up. I want to bring them down. It’s hard to quell something once it’s up.”
He also reiterated his pledge on the New York Stock Exchange to lower the corporate tax rate (already lowered to 21% during his first term) to 15%, but with the option of manufacturing in the United States. It is limited to companies.
“If you don’t build here, you pay 21%. If you build here, we’re going to raise it to 15%, but the product has to be made in the United States,” Trump told CNBC’s Jim. Kramer chases after Bell.
President Trump also acknowledged that the recent stock market rally helped him win the election over President Joe Biden, and that he has stronger ties to some of the country’s wealthiest and most powerful people. He pointed out that he would return to the White House.
”[Meta CEO] Mark Zuckerberg came to see me, and all I can say is: [Tesla and SpaceX CEO Elon [Musk] is something else, [Amazon founder] “Jeff Bezos is coming next week and I want to get some ideas from them,” Trump told Cramer, who runs the members-only CNBC Investment Club.
Bessent, the hedge fund mogul whom President Trump nominated to replace Janet Yellen as Treasury secretary, told Cramer that the incoming administration will benefit both Wall Street and Main Street.
“I think Wall Street and Main Street can win under President Trump, just like they did in Trump 1.0. Everyone can do well,” Bessent said.
— CNBC’s Alex Harring and Yun Li contributed to this report.
