BREAKING: Miami mayor Francis Suarez drops out of 2024 presidential race

Suarez, who polled at around 0.2 percent, is the first Republican contender to terminate his candidacy.

"Running for President of the United States has been one of the greatest honors of my life," he said in a statement on X. "This country has given so much to my family and me. The prospect of giving back at the highest levels of public service is a motivator if not a calling."

"Throughout this process, I have met so many freedom-loving Americans who care deeply about our nation, her people, and its future," he continued. "It was a privilege to come so close to appearing on stage with the other candidates at last week’s first debate."

Suarez said he hoped that whoever gets elected in 2024 "play[s] a major role in getting America's cities back on track to safety, prosperity and a better quality of life for all. "

This is a breaking story and will be updated.