The president spent a portion of his speech complaining about CNN. The news channel is a frequent target of the 73-year-old’s wrath.
“CNN is a voice that really seems to be the voice [abroad],” Mr Trump said. “And it’s a terrible thing for our country.
“We ought to start our own network and put some real news out there because they are so bad. They are so bad for our country.”
His comments were greeted with loud cheers from the crowd.
“I go [abroad] and [foreign leaders] say ‘Boy, the media hates your country’,” he said.
“And it’s just a shame, it’s just a shame. We really are, we are looking at that, we should do something about it too,” Mr Trump added.
“Put some really talented people and get a real voice out there, not a voice that’s fake.”
The president appeared to be suggesting the creation of a state run news organisation. Reports in October 2016 suggested Mr Trump, before winning the presidency, had wanted to launch a Trump Organisation news channel.
The advert the president’s campaign wanted to run on CNN featured debunked claims about Joe Biden’s son Hunter.
It also criticised various journalists, including the company’s staff.
“CNN is rejecting the ad, as it does not meet our advertising standards,” a spokesperson for the network said. “Specifically, in addition to disparaging CNN and its journalists, the ad makes assertions that have been proven demonstrably false by various news outlets, including CNN.”