Washington, July 22 US President Joe Biden on Sunday announced he was withdrawing from the White House, saying "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".
Biden, 81, endorsed Vice-President Kamala Harris to take over the ticket vacated by him, saying: "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 (Donald) Trump."
The party will need to nominate Kamala Harris formally at the convention in August, making her the first African-American woman and the first Indian-American to win the nomination of a major politician for the White House.
President Biden, who has been self-isolating at his home in Delaware with a Covid-19 infection, had been under mounting pressure to step aside and make way for a different candidate for the party, following a disastrous performance in the first presidential debate against his Republican rival, former President Trump.
"Over the past three and a half years, we have made great progress as a Nation," he wrote in a letter addressed to "fellow Americans".
"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. We've provided critically needed care to a million veterans exposed to toxic substances. Passed the first gun safety law in 30 years.
"Appointed the first African-American woman to the Supreme Court. And passed the most significant climate legislation in the history of the world. America has never been better positioned to lead than we are today.
"I know none of this could have been done without you, the American people. 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.
"I will speak to the Nation later this week in more detail about my decision.
"For now, let me express my deepest gratitude to all those who have worked so hard to see me reelected. 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," the US President said.
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