US President Joe Biden has announced his decision to pull out of the presidential race.

Instead, another Democrat will now need to be chosen to face off against Republican nominee Donald Trump in November.

Never before has a sitting president and presumptive nominee dropped out of the race so late in the process, and Biden’s decision to do so underscores the severity of the crisis that enveloped his campaign after his disastrous debate performance against former President Donald Trump, his Republican rival, in late June.

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

In a statement on X, Biden said “Over the past three and a half years, we have made great progress as a Nation.

“Today, America has the strongest economy in the world. We’ve made historic investments in rebuilding our Nation, in lowering prescription drug costs for seniors, and in expanding affordable health care to a record number of Americans.”

The President listed several key accomplishments of his administration, including providing care to a million veterans exposed to toxic substances, passing the first gun safety law in 30 years, appointing the first African American woman to the Supreme Court, and enacting significant climate legislation.

“America has never been better positioned to lead than we are today,” he said, emphasising the collective effort of the American people in achieving these milestones.

“Together, we overcame a once in a century pandemic and the worst economic crisis since the Great Depression. We’ve protected and preserved our Democracy. And we’ve revitalized and strengthened our alliances around the world.”

“It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek re-election, 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.”

He promised to address the nation later in the week with more details about his decision but took the opportunity to thank his supporters and Vice President Kamala Harris.

“I want to thank Vice President Kamala Harris for being an extraordinary partner in all this work. And let me express my heartfelt appreciation to the American people for the faith and trust you have placed in me.”

President Biden concluded his announcement with a call for unity and optimism. “I believe today what I always have: that there is nothing America can’t do – when we do it together. We just have to remember we are the United States of America.”

The head of the House GOP’s campaign arm, Richard Hudson, called President Joe Biden’s decision to drop out of the presidential campaign a “scandal of historic proportions.”

“Our president is incapacitated, Democrats knew, and they lied to the American people to cover it up. Voters will neither forgive nor forget the ultimate betrayal of their trust,” he said.

Hudson questioned the ability of Biden to continue the remainder of his presidential campaign.

“If the president is mentally unfit to campaign, he is mentally unfit to have the nuclear codes. Every House Democrat must now answer: is the president fit to serve the rest of his term?”