Trump Calls Elon Musk’s Plan for New Political Party ‘Ridiculous’
President Donald Trump has criticised Elon Musk’s plan to form a new political party, calling it “ridiculous” and saying it would only add confusion to the US system.
Speaking to reporters in New Jersey before boarding Air Force One, Trump said the US has always worked under a two-party system. He argued that a third party would not succeed.
“I think it’s ridiculous to start a third party,” Trump said. “We have tremendous success with the Republican Party. Third parties have never worked, so he can have fun with it, but I think it’s ridiculous.”
Musk Responds to Spending Bill by Trump
Elon Musk announced the launch of the “America Party” after Trump signed a tax-cut and spending bill that Musk claims will bankrupt the US. He stated that the party would aim to unseat Republican lawmakers who backed the bill in the upcoming midterm elections.
On X, Musk questioned the spending bill, saying, “What the heck was the point of @DOGE if he’s just going to increase the debt by $5 trillion?” Critics argue the bill will add significantly to the federal deficit and damage the economy.
Musk had previously supported Trump’s 2024 re-election campaign, often appearing alongside him at the White House. However, their relationship soured over disagreements on the spending bill and its impact on green energy credits for Tesla’s vehicles. Trump has threatened to remove government subsidies and contracts awarded to Tesla and SpaceX in response to Musk’s criticisms.
NASA Appointment Sparks Further Tension
Trump also addressed the previous nomination of Jared Isaacman, a Musk ally, to lead NASA. Isaacman’s nomination was withdrawn before his Senate confirmation vote. Trump said it was “inappropriate” to nominate someone so closely linked to Musk’s business interests when NASA is heavily involved with SpaceX.
“My Number One charge is to protect the American Public!” Trump posted on Truth Social, confirming concerns about potential conflicts of interest.
Musk’s Party Move Impacts Tesla ETF Plans
The creation of Musk’s new party has led Azoria Partners to delay the listing of its Azoria Tesla Convexity ETF. The firm cited concerns about Musk’s political ambitions conflicting with his role as Tesla CEO.
Azoria CEO James Fishback stated on X that the board should meet to discuss Musk’s political plans and whether they align with his duties to Tesla.
with inputs from Reuters
