WATCH: Trump Rings Opening Bell At New York Stock Exchange

President-elect Donald Trump rang the opening bell at the New York Stock Exchange Thursday morning just minutes after TIME magazine named him 2024’s “Person of the Year.”

As he rang the bell, Trump was joined by Vice President-elect JD Vance, Melania Trump, NYSE President Lynn Martin, and two of his children, Ivanka and Tiffany.

At one point, a chant of “USA” broke out among traders on the floor.

BREAKING: President-Elect Donald Trump rings the opening bell at the New York Stock Exchange pic.twitter.com/Pn9jayhWa3

— America (@america) December 12, 2024

“We’re going to give tremendous incentive like no other country has,” Trump said in brief remarks before the event. “We’re cutting your taxes. We’re going to cut them very substantially.”

Trump said companies that produce their products in the U.S. will have lower tax rates than companies that outsource manufacturing overseas.

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“We are incentivizing everybody to come back to the United States,” Trump continued. “We want you back here. Car manufacturers, everybody. And we have one product that nobody has really to the extent that we do. It’s called oil and gas. There is no country in the world that has more, we’re number one.”

NOW: President Trump speaks at the New York Stock Exchange with Mrs. Trump and members of his power team behind him! pic.twitter.com/0MaQHOxCgc

— Karoline Leavitt (@karolineleavitt) December 12, 2024

In 1985, Ronald Reagan was the first sitting U.S. president to ring the bell.

“With tax reform and budget control, our economy will be free to expand to its full potential, driving the bears back into permanent hibernation,” Reagan said at the time. “We’re going to turn the bull loose.”

President @realDonaldTrump signs the NYSE guest book and learns he is the first President to ring the bell since Ronald Reagan ???????? pic.twitter.com/IFR73ZWH10

— Margo Martin (@margomartin) December 12, 2024