President-elect Donald Trump The opening bell at the New York Stock Exchange rang on Thursday after he pledged an economic boom to a crowd of traders and business leaders.
“We are with you all the way,” the incoming Republican president said at the New York Stock Exchange building in lower Manhattan, where he was present. Invited AFTER BECOMING TIME”Personality of the year“For the second time.
Trump was flanked by the Vice President-elect J.D. VanceThe next first lady Melania TrumpNew York Stock Exchange Chairman Len Martin and his two sons, Ivanka And Tiffany, just as the bell rang.
The crowd looks on from the ground including Goldman Sachs“David Solomon, Citigroupjane fraser, VerizonHans Vestberg, Brian Cornell goal and Pershing Square's Bill Ackman.
At one point, the room erupted into chants of “USA!”
In brief statements before that, Trump promised that his next administration would lead to “an economy the likes of which no one has ever seen before.”
“We are going to provide massive stimulus that has never been seen before by any other country,” Trump told the crowd of wealthy people, including by cutting taxes “very, very dramatically.”
He reiterated his pledge to lower the corporate tax rate — already reduced to 21% during his first term in office — to 15%, but only for companies that choose to manufacture in the United States.
“You pay 21% if you don't build here. If you do, we'll try to get it up to 15%, but you have to build your product, make your product in the United States of America,” Trump told CNBC. Jim Cramer After the bell.
Trump also reiterated his plans to boost oil drilling in the United States, promising that doing so would reduce inflation.
Hedge fund tycoon Scott Bescent, whom Trump chose to replace him Janet Yellen As Treasury Secretary, he told Cramer that the incoming administration would benefit both Wall Street and Main Street.
“I think we'll see under President Trump that Wall Street can win and Main Street can win, just like we did in Trump 1.0. Everyone can do something great,” Besant said.
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— CNBC's Alex Haring contributed to this report.
