US President Donald Trump told reporters on Tuesday that he wishes Bernie Sanders well on his bid for the White House but thinks the senator has missed his chance.

Sanders in a Twitter statement earlier in the day announced that he would run for US president in the 2020 election. Sanders finished as runner-up in the 2016 Democratic primaries behind Hillary Clinton. His election campaign was focused on income equality and criticised the US' "millionaires and billionaires," — policies that proved especially popular among young voters.

"I wish Bernie well," Trump told reporters at the White House. "Personally I think he missed his time. But I like Bernie… We’ll see how well he does."

Trump campaign National Press Secretary Kayleigh McEnany issued a statement on Tuesday saying that US voters will reject Sanders’ policy agenda that includes high tax rates, government-run health care and "coddling" dictators. 

A number of Democrats recently announced their intention to run for the highest administrative post of the United States, including Tulsi Gabbard, from the State of Hawaii, a member of the US House of Representatives, New Jersey Senator Corey Booker, New York State Senator Kirsten Gillibrand, Minnesota Senator Amy Klobushar, Mayor of South Bend (Indiana) Pete Battigig, as well as former mayor of the US city of San Antonio (Texas), Julian Castro, who served as minister of housing and urban development in the Obama administration