President Donald Trump called Elon Musk's plans to form a new political party "ridiculous," saying Musk could have fun with his new project but that the United States functions best under a two-party system.

US President Donald Trump has hit out at Elon Musk over his plan to create a political party that would target key seats in the 2026 midterm elections and risk the Republican’s slim Congressional majority.

The US president described the plan by Musk, who was until recently his adviser and most prominent financial backer, to create a new political party as "ridiculous."