The Democratic Party has issued a statement responding to former President Donald Trump’s announcement that he is running for the presidency in 2024, predicting he will lose.

"Donald Trump was a failure as president; that’s why he lost in 2020 and it’s why he will lose again," DNC Chair Jaime Harrison said in a statement about Trump’s candidacy.

Harrison said it would be likely that other Republicans would try to contest Trump’s effort to snag the Republican nomination. Still, he said the Democratic Party would "be ready for them all."

"Today is just the kickoff to what will be a messy Republican primary with candidates competing to be the most extreme MAGA Republican in the race," Harrison added.

DONALD TRUMP ANNOUNCES 2024 RE-ELECTION RUN FOR PRESIDENT

"Democrats stand ready to remind Americans what Trump brought America: the worst jobs record since the Great Depression, rigged the economy for the super-rich with massive tax giveaways to corporations, the right-wing Supreme Court that overturned Roe and paved the way for extreme Republicans across the country to criminalize abortion, a diminished standing across the world, and absolute chaos that culminated in inciting a mob to attack the Capitol to try to overturn an election he knew he lost," Harrison also said.

In Palm Beach, Florida on Tuesday, Trump formally announced he is running for the 2024 Republican nomination for president.

The "Make America Great Again" movement leader’s presidential bid will be his third, after defeating Hillary Clinton in 2016, but falling to President Joe Biden in 2020.

"In order to make America great and glorious again. I am tonight announcing my candidacy for president of the United States," Trump said at his Mar-a-Lago estate to a group of eager supporters.

2024 WATCH: MEET THE POTENTIAL GOP PRESIDENTIAL CONTENDERS

"But just as I promised in 2016, I am your voice. I am your voice," he added. "The Washington establishment wants to silence us, but we will not let them do that. What we have built together over the past six years is the greatest movement in history because it is not about politics. It's about our love for this great country, America, and we're not going to let it fail."

"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," said Trump. "In fact, we can go very far. We're going to have to go far first. We have to get out of this ditch. And once we're out, you'll see things that nobody imagined for any country. It's called the United States of America. And it's an incredible place."

CLICK TO GET THE FOX NEWS APP 

The Democratic nominee is expected to be President Biden, pitting him and Trump in a 2020 rematch where both candidates set respective records for the most votes ever received.