The event is open to the public free of charge, apart from a ticketed area for VIPs in front of the memorial.
During the ceremony at the Lincoln Memorial, the president recapped a history of American military accomplishments in a pre-scripted speech. "It lives on in each and every one of you", the president said.
Aside from the "biggest ever" fireworks display - according to Trump - there will be a flyover from Air Force One, a display from the Navy's Blue Angels squadron, pyrotechnics, various other military hardware, and tanks shipped over from Georgia.
Critics accused Mr Trump of politicising the national holiday and using the event - which he produced himself - to further his means. He praised the historic inventions and achievements of the American people, including the moon landing.
"I wonder what Donald Trump will say this evening when he speaks to the nation at an event designed more to stroke his ego than celebrate American ideals", Biden said prior to the president's speech.
A group called the Revolution Club had warned on Wednesday that it meant to burn a US flag.
The president's speech was nearly entirely rooted in remembering the nation's history-especially the heroic achievements of American military heroes.
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As similar attacks on Harris get stepped up, they may indicate how much the Republicans are beginning to see her as a real threat. Warren and Booker were on stage together with eight other candidates during the first night of the debate in Miami last week.
But Mr Trump surprised some by steering clear of overt partisanship in his speech, instead celebrating patriotic themes and USA history including civil rights.
However Trump made an awkward blunder during the hour long speech while paying tribute to the United States army.
"What a great country", he said, as a B-2 stealth bomber and a pair of F-22 raptors roared above the crowd.
The president spoke for approximately an hour from behind bulletproof glass.
Trump is expected to make an address at the Lincoln Memorial in what's being called "A Salute to America" at 6:30 p.m. local time. During his "A Salute to America" speech in commemoration of Independence Day, channeled Dr. Emmett Brown of Back to the Future by insinuating that airplanes in the 18th century.
Just a mile east, residents of the Capitol Hill neighborhood had their own, much smaller parade on Thursday morning and many said they would not attend the "Salute to America" because they felt the July 4 celebrations had been taken over by Trump.
"We're going to be announcing something very shortly, a favored nations law", the president said outside the White House as he was leaving for a weekend trip to his New Jersey golf club.