Musk says ‘America Party' has been formed in US
WASHINGTON : A day after asking his followers on X whether a new US political party should be created, Elon Musk said on Saturday that the 'America Party is formed.'
'By a factor of 2 to 1, you want a new political party and you shall have it!' he said in a post on X.
'Today, the America Party is formed to give you back your freedom.'
The announcement from Musk comes after President Donald Trump signed a tax-cut and spending bill into law on Friday, which the billionaire chief executive officer of Tesla fiercely opposed.
Musk spent hundreds of millions on Trump's re-election and led the department of government efficiency under the Trump administration aimed at slashing government spending, but the two have since fallen out over disagreements about the bill.
Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.
Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill.
Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
M'sia to continue striving for mutually beneficial trade deal with US, says Miti
PETALING JAYA: Malaysia is committed to continuing its engagement with the United States to achieve a balanced, comprehensive and mutually beneficial trade agreement, says the Investment, Trade and Industry Ministry (Miti). In a statement on Tuesday (July 8), Miti said it would continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations. "These efforts are ongoing and reflect Malaysia's willingness to reach a fair and sustainable outcome for both parties," the statement read. ALSO READ: Malaysia hit with 25% tariffs, up from 24% The United States announced that Malaysia will face a 25% trade tariff, with effect from Aug 1. The rate, as stated in a letter posted on US President Donald Trump's social media platform, Truth Social, is 1% higher than the previously imposed 24% and was paused for 90 days. While the ministry acknowledges the concerns raised by the US regarding trade imbalances and market access, it believes that constructive engagement and dialogue remain the best path forward. "The United States is Malaysia's second-largest trading partner and largest export destination, with total trade in 2024 rising nearly 30% to RM324.9bil (US$71.4bil). "Exports to the United States reached RM198.7bil (US$43.7bil), while imports rose to RM126.3bil (US$27.7bil)," the statement read. ALSO READ: Malaysia reaffirms independent trade policy amid Trump's tariff threat Malaysia, the ministry added, views unilateral measures as potentially disruptive to business operations, supply chains and investment flows that benefit both countries. "Malaysia strongly believes that together, we can find mutually acceptable solutions that safeguard the interests of both our countries and our peoples, while ensuring that bilateral trade and investment remain a positive force for sustainable economic development," it said. The government also remains committed to protecting the interests of Malaysian businesses, workers and consumers, and will take all necessary steps to mitigate the impact of these new measures, it added.
Malay Mail
an hour ago
- Malay Mail
Malaysia commits to fair trade deal with US amid Trump's new 25pc tariffs
KUALA LUMPUR, July 8 — Malaysia has pledged to continue engaging the United States in pursuit of a fair and balanced trade agreement following the surprise announcement of a 25 per cent tariff on Malaysian goods. The Ministry of Investment, Trade and Industry (MITI) said it took note of the US decision and emphasised the importance of maintaining constructive relations. Washington's move, announced by President Donald Trump in a letter to His Majesty Sultan Ibrahim, the King of Malaysia, will take effect from August 1 and applies to all Malaysian exports entering the US. Trump cited 'Tariff, and Non Tariff, Policies and Trade Barriers' as the reason behind the action, which he described as a response to persistent trade imbalances. Malaysia said it valued the longstanding economic partnership with the US and believed that open and fair trade supported growth and jobs in both countries. MITI reaffirmed its commitment to good-faith discussions aimed at resolving trade issues and concluding negotiations on mutually beneficial terms. 'These efforts are still ongoing and reflect Malaysia's willingness to reach a fair and sustainable outcome for both parties,' the ministry said. The US is Malaysia's second-largest trading partner and its top export destination, with trade in 2024 rising nearly 30 per cent to RM324.9 billion. Exports to the US accounted for RM198.7 billion, while Malaysia imported RM126.3 billion in goods from the world's largest economy. Miti acknowledged Washington's concerns but maintained that dialogue remained the best way to resolve differences. It also cautioned that unilateral actions could disrupt business operations, supply chains and investment flows. Miti then called for solutions that protect both nations' interests and ensure continued economic development. The ministry said it would continue to clarify the scope of the announced tariffs with US counterparts and seek a timely resolution. The Malaysian government concluded by saying it would take 'all necessary steps' to protect local businesses, workers and consumers from the new measures. Trump's letter had left open the possibility of further tariffs should Malaysia increase its own trade barriers. He said Malaysia could avoid tariffs if its companies relocated production to the US, describing the American market as 'the Number One Market in the World, by far.'
Malay Mail
an hour ago
- Malay Mail
Trump's ever shifting tariff deadlines — Phar Kim Beng
JULY 8 — On April 9, 2025, President Donald Trump stunned the global economy by announcing a sweeping 'Liberation Day' tariff regime — slapping a 10 per cent baseline tariff on all imports into the United States, and threatening even higher reciprocal tariffs on countries that, in his view, failed to treat American trade fairly. At the time, the world was given 90 days to comply, reflect, or negotiate. That deadline was supposed to expire on July 9. Yet, on July 8 — just a day before the clock ran out — the Trump Administration did something unexpected but characteristically disruptive. Instead of activating the promised tariffs the next morning, the White House sent tailored letters to seven countries, including Malaysia, Japan, and South Korea, warning them that they now face 25 per cent tariffs effective August 1. For Malaysia, a country that had hoped its close diplomatic ties and economic complementarities with the US might earn some tariff exemptions, the move came as a shock. For Japan and South Korea, the timing was even more puzzling. Talks had been ongoing, and neither had expected the White House to preemptively tighten the noose — especially before the July 9 deadline even arrived. Why the sudden shift? And why is Trump repeatedly changing the tariff deadlines that he himself set? The answer lies in a core aspect of Trump's negotiating doctrine: manufactured unpredictability. Deadline diplomacy as weaponized leverage Deadlines are not timelines in Trump's world; they are instruments of leverage. From trade to arms deals to foreign policy, Trump has always treated deadlines not as fixed events but as threat vectors. They are not meant to culminate in action per se, but to force reactions from others — preferably capitulation. Take the original 90-day pause that Trump granted to the world on April 9. It was framed as a diplomatic reprieve, a window for countries to cut bilateral deals before the wrath of American tariffs was unleashed. But it was also a trapdoor — leading to either compliance or penalty. Then came the early July surprise. Instead of waiting until the original July 9 deadline, Trump preemptively issued tariff notices to Malaysia, Japan, and South Korea, effectively shortening the negotiation window. And yet, paradoxically, he also gave them a new window: August 1. The new date is arbitrary, yet precise enough to pressure decision-making within foreign capitals. In this sense, Trump's shifting of tariff deadlines is not incoherent. It is a calibrated tactic. By constantly moving the goalposts, he keeps countries off-balance, keeps negotiators guessing, and keeps markets on edge — but not yet panicked. It is a playbook based on calculated chaos. Country-specific pressure campaigns The July 8 letters to Malaysia, Japan, and South Korea were not broad communiqués. They were country-specific documents — almost identical in tone and language — announcing a flat 25 per cent tariff, but allowing just under four weeks for a negotiated escape route. For Malaysia, the letter reportedly referenced "unbalanced market access" and urged greater openness to US agricultural products and high-tech imports. For Japan and South Korea, the letters revived old Trumpian grievances: defense cost-sharing, trade imbalances, and currency policy. In short, these letters serve two purposes. First, they recast old grievances in a new light, justifying steep tariffs under the pretense of economic fairness. Second, they buy Trump more time to demand tailored concessions — while still appearing tough to his domestic political base. Manufactured urgency Critics call it erratic. Supporters call it strategic. But Trump's ever-changing tariff timeline undeniably creates a sense of manufactured urgency. Countries cannot plan or negotiate on their own schedule; they must do so on Washington's. The August 1 deadline is a textbook example. By moving the date forward from July 9 and then delaying real enforcement to August 1, Trump creates two pressure points instead of one. Each shift generates headlines. Each announcement causes markets to twitch. And each deadline becomes a point of diplomatic extraction. Moreover, these shifts signal to US voters that the President is not softening. By keeping the threat alive but extending the fuse, Trump feeds a steady narrative of 'America First' without igniting an all-out global trade war — yet. The Asia Shock: Malaysia, Japan, South Korea caught in the crosshairs For Southeast Asia and the broader Indo-Pacific, the implications are profound. Malaysia had just concluded high-level economic talks with France and Italy. Japan is preparing for Upper House elections later this month. South Korea's economy is already on the brink of recession, with GDP growth forecast slashed to below 1 per cent. In this climate, Trump's tariff threats feel less like policy and more like economic coercion. The threat of 25 per cent tariffs on Malaysia is particularly puzzling, given its relatively balanced trade profile and longstanding ties with the US If this is how allies are treated, what hope do adversaries have? Yet, therein lies Trump's logic. His trade doctrine is not about punishing enemies and rewarding friends. It's about extracting maximum advantage from everyone, especially those who've taken the US market for granted, in his view. A 3D-printed figure of US President Donald Trump, a US flag and a "tariffs" label are seen in this illustration taken April 10, 2025. — Reuters pic Conclusion: Strategy in the shifting sands Why does Trump keep moving the goalposts? Because in doing so, he retains total narrative control. Every extension feels like a reprieve. Every shortening feels like a warning. It is diplomacy by way of disruption, and economic policy dressed up as theater. But make no mistake — beneath the chaos lies a cold calculation. Trump's shifting deadlines are not a sign of indecision, but of strategic opportunism. Whether or not countries like Malaysia, Japan, and South Korea will bow to this timeline remains to be seen. What is clear is that in Trump's world, time itself is a tariff — measured not in days, but in leverage. * Phar Kim Beng is the Director of the Institute of Internationalization and Asean Studies (IINTAS) and Professor of Asean Studies in International Islamic University of Malaysia. He writes frequently on regional trade, diplomacy, and international strategy. ** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
