US President-elect Donald Trump sounded the opening bell at the New York Stock Exchange on Thursday, vowing to cheering traders and business leaders to achieve economic prosperity.
When the bell rang, Trump stood by Vice President-elect JD Vance, incoming First Lady Melania, New York Stock Exchange President Lynne Martin, and their two children, Ivanka and Tiffany.
Spectators in the audience included David Solomon of Goldman Sachs, Jane Fraser of Citigroup, Wei Hans of Verizon, Brian Connell of Target, and Bill Ackman of Pershing Square.
The audience once chanted “America.”
In an earlier brief speech, Trump promised that his incoming president would bring an “unprecedented economy.”
“We're going to give huge incentives that other countries don't,” Trump said to the wealthy, including “big” tax cuts.
He reiterated his desire to reduce the corporate tax rate to 15%, but only for companies that choose to manufacture in the US. During his first term, the corporate tax rate was reduced to 21%
“If you don't build a factory here, you have to pay 21% of the cost. If you do, we'll try to raise it to 15%, but you have to make your products in the US,” Trump said.
Trump also reiterated his plans to increase US oil drilling and promised that doing so would reduce inflation.