By Anthony Marcus, correspondent in Washington. Eurasia Business News, July 21, 2024. Article n°1103.

U.S. President Joe Biden has withdrawn from the 2024 U.S. presidential race, marking a significant and rare decision for a sitting president.

Joe Biden said he would not seek re-election for a new term and was withdrawing his candidacy from the presidential election. He noted that he would remain in the presidency until the end of his term. Mr. Biden also expressed “full support” for his Vice President Kamala Harris as a candidate in the presidential election.

“I think it will be in the interest of my party and country if I step down and focus on fulfilling my duties as president for the rest of my term,” the president said in an official message posted on social network X.

This decision comes just four months before the November election and follows a widely criticized debate performance against former President Donald Trump in late June.

Joe Biden noted that the United States has made “great progress” over the past three years, that is, during his presidency, including in economic terms, in health, climate change, etc., and has also gone through the coronavirus pandemic. The U.S. president also thanked his Vice President Kamala Harris, calling her an “outstanding work partner.”

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Senior Democrats said on July 18 that it was only a matter of time before incumbent US President Joe Biden withdrew from the presidential race, The Wall Street Journal (WSJ) reported, citing unnamed sources. Thus, Senate Majority Leader Chuck Schumer said that he is actively planning further steps in case the candidate is replaced.

On July 19, former Speaker of the US House of Representatives Nancy Pelosi, in private conversations with House Democrats, said that it would be possible to convince President Joe Biden to withdraw from the race “pretty soon,” reported The Washington Post (WP), citing sources.

Over the past three weeks, Joe Biden has faced pressure from fellow party members to end his election campaign. The reason was the disastrous performance at the televised debates against Donald Trump. According to The Washington Pos, about 37 congressmen have publicly called on the president to withdraw his candidacy.

According to The Financial Times, after Joe Biden’s unsuccessful speech, sponsors of the Democratic Party refused to donate to Mr. Biden’s campaign.

The 2024 U.S. presidential election will take place on Tuesday, November 5, 2024.

Democrats must formally confirm their candidate at the convention in Chicago, which begins on August 19. If it is not Biden, then other members of the party will be able to submit their candidacies.

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© Copyright 2024 – Eurasia Business News. Article No. 1103.