Trump Concedes Defeat, Pledges 'Orderly Transition' of Power to Joe Biden

President Donald Trump for the first time acknowledged his defeat in the Nov. 3 election and announced there would be an “orderly transition on January 20th” after Congress concluded the electoral vote count early Thursday certifying President-elect Joe Biden’s victory.

Trump's acknowledgement came after a day of chaos and destruction on Capitol Hill when his supporters stormed the Capitol, forced members into hiding and halted the formal congressional tally for more than six hours.