Trump dismisses Musk’s plan for 3rd political party as doomed

President Donald Trump dismissed Elon Musk’s plan to launch a new political party, calling it “ridiculous” and insisting the U.S. remains a “two-party system.”

“Third parties have never worked, so he can have fun with it, but I think it’s ridiculous,” Trump told reporters Sunday, according to multiple press reports.

Musk announced Saturday that his long-teased “America Party” is officially formed, following Trump’s signing of a tax and spending bill that Musk has sharply criticized. So far, Musk hasn’t provided details or filed formal paperwork for the party. His announcement came after posting a poll on X claiming 65% support for creating the party.

Musk, the Tesla (NASDAQ:TSLA) chief executive who left Trump’s administration in May after a public falling-out over government spending, has repeatedly condemned the president’s latest budget as “insane.”

He also accused it of boosting outdated industries while harming innovation and raising the national debt by $5 trillion.

On Truth Social, Trump claimed he was “saddened” to see Musk “go completely off the rails” in recent weeks, and highlighted that the budget cuts electric vehicle subsidies, which Musk has opposed.

Treasury Secretary Scott Bessent also weighed in, suggesting Musk should stick to business.

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