Donald Trump acknowledges Joe Biden's victory a day after US Capitol violence
Trump, who had been claiming fraud in the elections, said that his prime focus now is a smooth transition of power to Biden. He made comments in a video released on Thursday evening.
He also condemned Thursday's violence at the US Capitol.
"Serving as your president has been the honor of my lifetime," Trump said. "And to all of my wonderful supporters, I know you are disappointed, but I also want you to know that our incredible journey is only just beginning."
His statements were a reversal to what he had been claiming since Nov 3 when the results of the US Elections were announced.