Tashkent, Uzbekistan (UzDaily.com) -- U.S. President Joe Biden has announced that he is withdrawing from the presidential race and will not seek re-election. He emphasized that he will remain in the White House until the end of his term.

U.S. President Joe Biden has stated that it has been a tremendous honor for him to serve as president.

"Despite my plans to run for a second term, I am convinced that it is in the best interest of the party and the country for me to withdraw from the presidential race and focus on fulfilling my duties until the end of the current term," Biden declared.

The President has announced his support for Vice President Kamala Harris as the Democratic Party's candidate and called on Democrats to "unite and defeat Trump."

Amid declining popularity and evident health issues, there have been increasing calls among Democrats to nominate another candidate for the U.S. presidency. Vice President Kamala Harris is considered the most likely contender.

Theoretically, the party could replace the candidate at the convention in August, but in practice, this is difficult to achieve unless the primary-winning president voluntarily withdraws from the race.

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