Washington (AFP)

US President Joe Biden will make a painful address to the nation on Thursday, vowing a peaceful transfer of power to Donald Trump after his political nemesis scored a crushing election win over Kamala Harris.

Biden will speak in the Rose Garden of the White House at 11am (1600 GMT) to "discuss the election results and the transition" to Trump's second term.

The 81-year-old dropped out of the race against Trump in July and handed the Democratic nomination to vice president Harris -- but is now likely to see his legacy dismantled by the Republican's stunning comeback.

The White House said Biden spoke with Trump on Wednesday and "expressed his commitment to ensuring a smooth transition and emphasised the importance of working to bring the country together."

Biden is meanwhile striking a presidential tone by calling Trump and inviting him to meet at the White House, despite their long history of bitter animosity.

Trump campaign spokesman Steven Cheung said Trump "looks forward to the meeting, which will take place shortly, and very much appreciated the call."

It would be the first time they had met since Biden's disastrous debate performance against Trump in June that forced him out of the race.

Trump 2.0

The United States and the world face a radically transformed political landscape after Trump's overwhelming victory.

US voters backed Trump's policies and rejected Biden and Harris's record, especially on the economy and inflation, exit polls showed.

Trump's choices for his own White House team will be in the spotlight, with the world's richest man Elon Musk and Robert F. Kennedy Jr. both in line for roles.

The Trump campaign's transition team said Wednesday that "in the days and weeks ahead" Trump would be seeking the "best people."

Biden's legacy was supposed to be a Harris victory that would keep Trump out of power -- but many Democrats feel he waited too long to step aside for his vice president.

He paid tribute to Harris after her concession speech on Wednesday, saying that "what America saw today was the Kamala Harris I know and deeply admire."

Already 78, Trump is on course to break Biden's record as the oldest-ever sitting president during his four-year term. He will surpass Biden, who is set to step down in January at the age of 82.