Biden was under pressure to quit the presidential race following his struggling performance in the debate with many within his party doubting his candidacy and re-election attempt.

Biden made the announcement just four months before the USA votes to elect a new President.

In his statement posted on X, Biden said: "It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term."

Biden said he will address the nation on his decision later this week.

He thanked Vice President Kamala Harris and called her an 'extraordinary partner'.

Biden endorsed Kamala Harris as the Democratic nominee for the Presidential race.

He posted on X: "My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this."

In a phone call with CNN minutes after President Joe Biden announced his exit from the 2024 race, former President Donald Trump described Biden going “down as the single worst president by far in the history of our country.”

Trump told the American news channel that he thinks Vice President Kamala Harris will be easier to defeat than Biden would have been.

Naomi Biden, granddaughter of President Joe Biden, said she felt proud of her grandfather over his decision to exit the Presidential race.

She posted on X: " I’m nothing but proud today of my Pop, our President, Joe Biden, who has served our country with every bit of his soul and with unmatched distinction. Not only has he been—and will continue to be—the most effective president of our lifetime, but he has likely already cemented himself as the most effective and impactful public servant in our nation’s history. He has been at the center of, and had a material impact on, literally every single major issue that our country and world has faced for 50 years. Our world is better today in so many ways thanks to him. To the Americans who have always had his back, keep the faith. He will always have ours."