April 27, 2026
World
World
WASHINGTON, April 27 — A man accused of targeting US administration officials at a Washington event has been arrested after allegedly opening fire, injuring a Secret Service agent.
WASHINGTON, July 6 — The strained relationship between Republican President Donald Trump and his key campaign backer Elon Musk took another dramatic turn yesterday, as the billionaire entrepreneur announced the launch of a new political party and harshly criticised Trump’s newly signed tax bill.
Just a day after polling his followers on X about the idea of creating a new US political party, Musk made the declaration: “Today, the America Party is formed to give you back your freedom.”
“You want a new political party by a margin of 2 to 1 — and now you shall have it!” Musk posted.
The announcement followed Trump’s signing of his so-called “big, beautiful” tax and spending bill into law on Friday, a move Musk strongly opposed. He warned the legislation would drive the country toward bankruptcy.
Musk, who amassed his wealth through Tesla and SpaceX, had previously poured hundreds of millions into Trump’s re-election campaign and even led the Department of Government Efficiency during Trump’s second term to curb federal spending. However, the two have since had a major falling out over the bill.
Earlier, Musk vowed to launch a political party and fund efforts to unseat lawmakers who backed the legislation. In response, Trump threatened to pull federal subsidies granted to Musk’s companies.
The feud has sparked concerns among Republican leaders, who fear the rift could undermine their chances of retaining control in the 2026 midterm elections.
When asked on X what triggered his shift from supporting Trump to opposing him, Musk pointed to Trump’s fiscal policy: “Increasing the deficit from an already insane US$2T under Biden to US$2.5T. This will bankrupt the country.”
In another post, Musk drew a historical analogy, referencing the ancient Greek general Epaminondas’ defeat of Sparta: “The way we’ll break the uniparty system is similar to how Epaminondas shattered Spartan invincibility at Leuctra — with extremely concentrated force at a precise point.”
There has been no immediate response from Trump or the White House regarding Musk’s announcement.
The high-profile clash between Trump, often dubbed the world’s most powerful man, and Musk, the world’s richest, has already taken a financial toll on Tesla. The company’s stock soared after Trump’s re-election last November, peaking at over US$488 in December, but has since plunged more than 50 percent, ending last week at US$315.35.
Despite Musk’s vast resources, disrupting the long-standing two-party dominance in US politics will be a major challenge. The Republican-Democratic stronghold has remained largely unshaken for over 160 years, while Trump’s approval ratings have consistently remained above 40 percent throughout his second term, even amid contentious policies. — Reuters
