Elon Musk has unveiled a new political movement dubbed the 'America Party,' marking a dramatic rupture with former ally Donald Trump over contentious tax reforms. The billionaire announced the initiative on his X platform Saturday, framing it as a response to what he called Trump's "utterly insane and destructive" fiscal policies.
A Public Break
The rift between Musk and Trump deepened in May when Musk resigned from his advisory role in Trump's administration and publicly condemned the Republican-backed tax bill. Musk accused lawmakers of promoting "debt slavery" and warned the legislation could "drive America into bankruptcy." Trump retaliated this week by threatening to revoke Musk's residency and cut federal funding for his companies.
Musk's political pivot follows a July 4 poll where 65% of 1.2 million respondents supported his proposal for a new party. While the tech mogul claims the America Party will begin operations "next year," details about its leadership structure and policy platform remain unclear.
Reality TV or Real Policy?
Thomas Fingar of Stanford's Shorenstein Asia-Pacific Research Center described the feud as resembling "a reality TV show," noting the tax bill's inherent risks. Meanwhile, global observers are watching how this clash between two influential figures might reshape U.S. economic priorities—a development with potential ripple effects across Asian markets and international trade networks.
