Biden officially announces his withdrawal from the US presidential election race

US President Joe Biden announced on Sunday evening his withdrawal from the US presidential election race against former President Donald Trump.

“It has been the greatest honor of my life to serve as your president,” Biden said in a statement posted on his official X page. “While I intend to seek re-election, I believe it is in the best interest of my party and my country that I step aside and focus solely on fulfilling my duties as president for the remainder of my term.”

He said he would speak to the nation later this week and provide more details about his decision.

He added in his statement: "Over the past three and a half years, we have made great progress as a nation, and today America has the strongest economy in the world."

“We have made historic investments in rebuilding our nation, lowering prescription drug costs for seniors, and expanding affordable health care to a record number of Americans,” the president said. “We have provided care for a million veterans who were exposed to toxic substances, and passed the first gun safety law in 30 years.”

“The first African American woman was appointed to the Supreme Court,” he continued. “The most important climate legislation in world history was passed, and America has never been in a better position to lead than it is today.”

“I know that none of this could have been done without you, the American people,” he added. “Together, we have overcome a once-in-a-century pandemic and the worst economic crisis since the Great Depression. We have protected and preserved our democracy and revitalized and strengthened our alliances around the world.”

“And now let me express my deep gratitude to all those who worked so hard to re-elect me,” he continued. “I want to thank Vice President Kamala Harris for being an exceptional partner in all of this work. And let me express my deep appreciation to the American people for the faith and trust you have placed in me.”

The US President concluded his statement by saying: “I believe today what I have always believed, which is that there is nothing America cannot do when we do it together. We just have to remember that we are the United States of America.”

Biden's announcement comes after weeks of pressure from Democratic leaders, organizers and donors who have publicly called for Biden to withdraw. 

His disastrous performance in the CNN presidential debate and his uneven showing against former Republican President Donald Trump last month raised concerns among voters, particularly about his advanced age (81 years old).