Trump, Harris exchange blows in revamped presidential race as Biden exits

• Biden addresses his nation as he exits presidential race.
• Trump faces younger presidential rival in Harris.
• Harris expected to pick running mate by August 7.

United States President Joe Biden addressed his nation on Wednesday for the first time since dropping his reelection bid, saying he decided to forgo personal ambition to save democracy in a sedate Oval Office speech that contrasted with the rough-and-tumble campaign.

Shortly before the speech, Republican presidential nominee Donald Trump fired shots at Democratic rival Kamala Harris in his first rally since she replaced Biden atop the ticket, signaling a bare-knuckled campaign ahead of the November 5 election.

Trump branded Harris a "radical left lunatic" after she had dominated the campaign the two previous days with withering attacks on him that pointedly raised his felony convictions, his liability for sexual abuse, and fraud judgments against his business, charitable foundation and private university.

Biden said he believed he deserved to be reelected based on his first-term record, but his love of country led him to step aside.

"I decided the best way forward is to pass the torch to a new generation. That is the best way to unite our nation," Biden said.

Trump was less kind, saying in a post on his Truth Social platform that Biden's speech was "barely understandable and sooo bad!"

After spending much of the campaign attacking Biden as old and feeble, Trump, 78, now faces a younger candidate in Harris, 59, the first Black woman and Asian American to serve as vice president.

Energising many Democrats as potentially the first woman to take the White House, Harris quickly consolidated the party behind her, as her campaign said it had raised $126 million since Sunday, with 64% of donors making their first contribution of the 2024 campaign.

With no challengers for the nomination, she won the backing of party delegates on Monday, a day after Biden's announcement.

The next highly anticipated development will be Harris' choice of a vice-presidential candidate to counter Trump's selection of Ohio Senator J.D. Vance.

Among those being mentioned are Kentucky Governor Andy Beshear and Transportation Secretary Pete Buttigieg.

The Democratic National Committee's rules committee agreed on a plan on Wednesday to formally nominate Harris as soon as August 1 with Harris picking a running mate by August 7.

On Tuesday Harris showed her willingness to throw a punch, contrasting her background as a prosecutor to his record as a convicted felon.

"Do we want to live in a country of freedom, compassion and rule of law, or a country of chaos, fear and hate?" she asked during a speech in Milwaukee.

A Reuters/Ipsos poll completed on Tuesday showed Harris with a lead of two percentage points over Trump, 44% to 42%. A CNN poll by SSRS showed Trump leading Harris, 49% to 46%. Both findings were within the polls' margins of error.