JUST IN: Biden withdraws from US presidential election race

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US President Joe Biden has made the decision to withdraw his bid for re-election, citing that “it is in the best interest of my party and the country.”

This announcement comes four months prior to the upcoming election, significantly altering the dynamics of the presidential race.

The move follows substantial pressure from within the Democratic party, particularly following a lackluster debate performance against Republican Donald Trump in late June.

In a letter shared on his social media, Biden expressed that serving as president has been the greatest honor of his life.

“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 the duties as President for the remainder of my term”.

He said in his statement he would address the nation on the matter next week.

President Biden thanked his Vice President Kamala Harris, saying she was an “extraordinary partner”.