Former President Barack Obama has spoken about the setback suffered by Kamala Harris in the historic White House race.

In a statement issued on Wednesday, Obama said while this was not the outcome he had hoped for, he and Michelle, his wife, wished to congratulate Trump and JD Vance on their victory.

“Living in a democracy is about recognising that our point of view won’t always win out, and being willing to accept the peaceful transfer of power,” he said.

“America has been through a lot over the last few years”, from a pandemic and price hikes to rapid change and the “feeling a lot of folks have that, no matter how hard they work, treading water is the best they can do.

“Those conditions have created headwinds for democratic incumbents around the world, and last night showed that America is not immune.

“The good news is that these problems are solvable – but only if we listen to each other, and only if we abide by the core constitutional principles and democratic norms that made this country great.

“In a country as big and diverse as ours, we won’t always see eye to-eye on everything. But progress requires us to extend good faith and grace – even to people with whom we deeply disagree.”