Donald Trump has officially launched his bid for the White House in 2024. The Tuesday night announcement was received with loud cheering and applause from the assembled crowd, including his friends and family, at Mar-a-Lago.

Trump promised to "build the greatest economy ever," claiming that the U.S., under the current administration, was experiencing inflation which has been the highest, compared to the past five decades. He also took a dig at President Joe Biden, calling him the "face of left-wing failure and Washington corruption" as he shared his opinions regarding the current administration, The Epoch Times reported.

"I am running because I believe the world has not yet seen the true glory of what this nation can be. We have not reached that pinnacle, believe it or not. I will fight like no one has ever fought before," Trump reportedly said. "America's comeback starts right now."

"We are a nation in decline," Trump said, adding, America was facing "pain and hardship," UNILAD reported. The former president took many digs at Biden during the speech and even mocked him for sleeping at global conferences.

For the unversed, Biden appeared to be dozing off during the 2021 United Nations Climate Change Conference in Scotland, following which Trump's nickname for the president, "Sleepy Joe" caught on.

Trump also claimed that Biden has led America to the brink of a nuclear war. He laughed off the emphasis being placed on climate change and attacked Biden for joining the fight against its dangers, rather than focusing on the nuclear threat.

Further on, he made fun of Biden's recent gaffe while attending the Association of Southeast Asian Nations (ASEAN) Summit in Cambodia this past weekend. The president referred to the host country as Colombia, twice.

Trump also parroted the stolen election claims during the speech. "We will again put America first," he said, adding that his reelection would result in the greatest economy ever. "If you remember I did it twice," he said.

America is being "embarrassed, humiliated, and weakened" under Biden's presidency, and "we're here tonight to declare it does not have to be this way," Trump announced.

The controversial ex-president also claimed that South Korea didn't launch a single long-range missile when he was in office, inflation was non-existent, and forces like Iran and China respected him and the country, adding that the opposite was happening under Biden. He also spoke about the border crisis, saying that the Southern border was erased and America will be "paying the price of this invasion in the country for years to come."

"I will ensure that Biden does not receive 4 more years. Our country could not take that. I say that not in laughter but in tears," Trump added.

Minutes after Trump started his presidency announcement speech, Biden shared a "Donald Trump failed America" advertisement on his Twitter page, a move that was lauded by the president's supporters on social media.

"Wow. President Biden just came out swinging with this new ad," read a tweet. "Good to see Biden fighting back, this video definitely had some teeth," wrote another.

"Good. I'm happy he's doing this. Veiled diplomacy has failed time and again," a third wrote.

US President Joe Biden and his predecessor Donald Trump are both making closing arguments for the midterm election in Pennsylvania