Elon Musk's 'America Party' Sparks Political Feud with Trump

Elon Musk announced his plan to establish a new political group named the 'America Party,' escalating a public feud with former President Donald Trump. Musk criticized Trump's tax and spending bill, which he claimed could bankrupt the United States.

In a reactionary statement, Trump dismissed the idea of a third party as 'ridiculous,' insisting the two-party system serves the United States best. His remarks came as he was returning from a golf club visit, emphasizing that the political system was not designed for third-party success.

Musk's political venture has already had business repercussions, with Azoria Partners announcing a delay in launching a Tesla-related venture. Meanwhile, the Democratic National Committee has welcomed the discord between Musk and Trump, as it highlights divisions within the Republican camp.

(With inputs from agencies.)