US President Joe Biden on Wednesday launched an acerbic attack on his predecessor and potential rival in the 2024 elections, Donald Trump, saying he has "failed America" and alleged that Trump rule was marked by "record-breaking unemployment".

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Trump, facing several criminal investigations of his conduct related to his presidency, announced from his Mar-a-Lago estate in Florida on Tuesday that he will run for the US president in 2024 to make America "great and glorious" again.

Trump, 76, is seeking a potential rematch with Democratic President Biden.

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"In order to make America great and glorious again, I am tonight announcing that I will run for President of the United States. This will be our campaign altogether,? he told his cheering supporters.

Donald Trump has failed America," Biden tweeted from Bali in Indonesia, where he is attending the G-20 summit with world leaders including Prime Minister Narendra Modi.

Biden posted a video in which he alleged Trump's tenure was marked by "tax cuts for the rich and corporators," and "record-breaking unemployment."

Trump's fans, however, were delirious at his much-anticipated announcement to run for the 2024 US Presidential elections, terming it a "historic night."

Tonight, I was honoured to join the 45th President of the United States of America, Donald J. Trump, his family, and many close friends for a special announcement at The Mar-A-Lago Resort in Palm Beach, Florida. It was a historic night! We heard my friend, President Trump, tell America he will indeed run for President in 2024,? Charles W Herbster, a close friend of Trump from Nebraska, told PTI.

Popular African-American singer Mary Milben, also congratulated Trump.

As the 2024 presidential election season commences, we recognise America is facing great challenges, foreign and domestic. In these times, we need a President to restore hope in the hearts of Americans, faith in the souls of humanity, and trust across borders,? Millben said.

Shalabh Kumar from the Republican Hindu Coalition said Trump's announcement was historic and his speech inspirational.

Our goal is to at the minimum, repeat of 2016, 65 per cent Hindu Americans will vote for Trump in 2024,? he said.

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