Donald Trump announces he's running for president in 2016

Donald Trump is officially running in the 2016 presidential race.

"We need somebody who can take the brand of the United States and make it great again," he said.

In Trump's speech, he said that other countries have been beating the United States in many areas.

"The U.S. has become a dumping ground for everybody else's problems," he said.

Trump is sitting down with ABC News' George Stephanopoulos to discuss his run in an interview that will air during World News Tonight Tuesday.

"My father succeeds, time and time again, where government has failed," his daughter Ivanka Trump said when introducing the announcement. "I can tell you that there is no better person than my father to have in your corner."

Trump is expected to participate in the first Republican debate on Aug. 6. A maximum of 10 spots are given, reserved for GOP candidates with the highest approval in the polls.

Former Florida Gov. Jeb Bush announced he was running Monday, joining a Republican field of 11 major candidates that includes Rick Perry and Marco Rubio. Former Secretary of State Hillary Rodham Clinton is the clear favorite in the less crowded Democratic contest that also includes Bernie Sanders and Martin O'Malley.

ABC News and the Associated Press contributed to this report.