Australia's national interests are on the line, leaders have warned, after US President Joe Biden announced he was withdrawing his bid for re-election.
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The abandoned bid followed growing pressure on the 81-year-old Democrat who will remain in the role until the end of his term in January 2025.
Prime Minister Anthony Albanese has already sent him well wishes and paid tribute to his "extraordinary record".
"President Biden deserves to be recognised for, once again, not putting himself forward first, but giving his first consideration to being what he believes is in the interests of the United States of America, as he has done his whole public life," mr Albanese told reporters in Cairns on Monday.
"Who the president of the United States is, has an impact on the world as the world's largest economy and as an important partner of Australia - not just in security issues, but in economic issues, as well.
"President Biden has been a great friend of Australia."
Mr Biden's age was his biggest vulnerability during his campaign, former prime minister Malcolm Turnbull said, and he had done the right thing
But Nationals MP Barnaby Joyce said Mr Biden should have stepped away earlier.
"We have a lot riding on what happens in the United States, and so we have a great interest in making sure that their contenders for president are the best they can possibly be," he told Sunrise.
Former ambassador in Washington, Arthur Sinodinos, has urged the government not to react emotionally to ensure Australia's interests are best served in the US.
"There are vital national interests at stake for us in the relationship with the US, and we have to behave accordingly," he told ABC radio.
"You have to work out rationally what lays before you and how you tackle it.
"It's not about whether we like a particular candidate or a particular president - these relationships transcend countries, transcend personalities, they transcend parties," Mr Sinodinos said.
Mr Biden has nominated his vice president Kamala Harris to replace him in the November contest against second-time presidential hopeful Donald Trump.
The prime minister said Ms Harris was a "good friend of Australia as well" but the Democratic convention remained a matter for the US.
"The United States will have a new president come January, and that will be a matter for the people of the United States to express through the democratic process," Mr Albanese said.
Australia's ambassador to the US Kevin Rudd, whose prime ministership fell victim to a leadership spill in 2010, noted the difficulty of Mr Biden's choice.
"Leadership can be a lonely place," he posted on X.
"We can all take pause to recognise and respect the difficult decision President Joe Biden has made today."
Opposition Leader Peter Dutton also thanked the US president and pointed to a security alliance between the US, UK and Australia as one of Mr Biden's achievements.
"Like American presidents before him, Joe Biden has been a leader resolutely committed to the alliance," he posted on X.
"I thank the President for the support and abiding friendship he has shown to Australia.
Mr Biden's decision has come as a "shock, not a surprise" following his poor performance in a televised debate against the 78-year-old Republican rival, University of Sydney United States Study Centre fellow Bruce Wolpe said.
"Democrats lost confidence in his ability to run the race, and he started losing members of Congress who felt that their seats were at risk - that the whole control of Washington was at risk," he told ABC radio.
with Reuters
Australian Associated Press
