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Trump wins when he is out of power because that is when his anti-establishment narrative works, he says.
Trump emerged the winner in a poll that kept the country on tenterhooks throughout the months-long campaign.
Republicans also posted early gains as they battled to retain control of the House of Representatives.
Biden said he will remain in his role as president and commander-in-chief until his term ends in January 2025.
Trump's commanding performance means he has all but clinched his third consecutive presidential nomination.
The victory gives Republicans the power to rein in Biden's agenda, as well as to launch potentially politically damaging probes of his administration and family.
The American people have made clear they expect Republicans to work with me as well, US President Joe Biden said.
The midterm elections will have a significant impact on the direction of the nation, as well as the fate of the person and the party in power in the White House.
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