President-elect Donald Trump, making an appearance at the New York Stock Exchange (NYSE) this week, pledged significant tax cuts aimed at boosting domestic production.
Moments before ringing the opening bell, Trump announced a “tremendous incentive” for businesses willing to manufacture in the United States, FOX Business reported.
He was joined by First Lady Melania Trump, Treasury Secretary nominee Scott Bessent, and Health and Human Services Secretary nominee Robert F. Kennedy, Jr.
Trump highlighted his past achievements, referencing his administration’s previous corporate tax reduction from over 40% to 21%. He now plans to lower that rate further to 15%, but with a condition — the incentive will only apply to companies producing goods within the U.S.
“We’re going to give [a] tremendous incentive like no other country has,” Trump stated.
The visit comes after Trump was named Time magazine’s Person of the Year, recognized for his political resurgence amid legal challenges and an assassination attempt. His return to the national stage has been marked by proposals to strengthen tariffs on countries like Mexico, Canada and China, alongside his commitment to expanding the 2017 tax cuts.
Energy production also remains central to Trump’s agenda. Reiterating his “drill, baby, drill” stance, Trump promised to boost natural gas and oil output, aiming to keep the U.S. as the world’s top energy producer. He assured that increasing energy supply would help alleviate inflationary pressures, particularly rising grocery costs.
Recent data from the U.S. Department of Labor reported a 2.7% annual rise in consumer prices, with essentials like fuel and rent continuing to strain households. Trump assured voters that his economic plans would bring relief, saying, “That should never happen in America, and it’s not going to happen in America.”
Trump concluded his remarks with a vision for a robust economy, claiming it would be “the likes of which nobody’s ever seen before.” He expressed confidence that his policies would draw businesses back to American soil and provide financial stability for citizens.