Speaking in a live "Fox & Friends" phone interview Friday, Trump claimed not to be concerned about taking on Biden next year.
Steve Doocy asked the president what he meant when he said Biden "doesn't have what it takes."
"It means mental capacity, it means a lot of different things. He never did have what it takes," said Trump, joking that he used to refer to Biden as "one percent Joe" for his prior failed presidential runs.
"Obama came along, and surprisingly, took him off of, I say, the trash heap."
Trump noted that Sen. Elizabeth Warren, D-Mass., who he called "Pocahontas," is doing better in recent polls and said he'd "love to run against her." He said he'd also like to run against Sen. Bernie Sanders, I-Vt., but lamented that Sanders is falling in recent polls.
He said he sees those three candidates as the most likely to be his opponent in 2020.
"They talk about Kamala, I don't see Kamala. ... Mayor Pete, I don't see at all, I think that's a joke," said Trump, who expressed confidence ahead of the formal launch of his re-election campaign Tuesday in Orlando, Florida.
The Quinnipiac University public opinion survey, released Tuesday, also indicated a deterioration in Biden’s large lead over the rest of this historically enormous field of nearly two-dozen Democrats.