Kamala Harris yields to Donald Trump in the 2024 presidential election

Kamala Harris has conceded the 2024 presidential election.

On Wednesday, November 6, the 60-year-old vice president called President-elect Donald Trump, 78, to congratulate him on his victory and offer her concession, a senior Harris aide confirms to PEOPLE.

She reportedly spoke about the importance of a peaceful transfer of power between governments and expressed hope that he could be a president for all Americans.

The Democratic presidential candidate will publicly address the nation about her defeat on Wednesday at 4 p.m. ET at Howard University in Washington, D.C., a historically black university where she earned her bachelor's degree.

Harris first announced her presidential campaign on July 21, after President Joe Biden dropped out of the race and immediately gave her his endorsement. Biden, 81, defeated Trump in the 2020 presidential election, receiving 306 Electoral College votes compared to 232 for Trump.

“My very first decision as a party candidate in 2020 was to choose Kamala Harris as my vice president. And it was the best decision I ever made,” Biden wrote on X in July. “Today I want to express my full support and support for Kamala as our party's nominee this year. Democrats – it’s time to come together and beat Trump. Let’s do this.”

Shortly afterward, Harris confirmed she would run for president with a statement shared by the Biden campaign, in which she called the president “selfless and patriotic.”

“I am honored to receive the President’s support and my intention is to earn and win this nomination,” she wrote. “Over the past year, I have traveled across the country speaking to Americans about the clarity of this momentous election. And I will continue to do so in the coming days and weeks. “I will do everything in my power to unite the Democratic Party – and unite our nation – to defeat Donald Trump and his extreme Project 2025 agenda.”

The next day, Harris secured enough Democratic delegates to secure the party's presidential nomination, having collected more than the 1,976 pledged delegates needed to formally win the nomination during the Democratic National Convention.

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In August, Harris chose Minnesota Gov. Tim Walz as her running mate.

Harris is the first woman, the first Black person and the first person of Indian descent to hold the office of vice president.