On July 5, local time, American entrepreneur Elon Musk posted on social media platform that the "American Party" was established on that day.

The direct reason for Musk's establishment of the "American Party" is the implementation of the "Big and Beautiful" bill promoted by Trump, which took effect on July 4th. This bill repealed several provisions set by the Biden administration to reduce energy consumption, eliminating tax incentives for purchasing electric vehicles, which is detrimental to Musk's Tesla company. Additionally, Musk believes that the Democratic and Republican parties in the U.S. are essentially a "single party," and that the country needs an alternative option. He hopes the new political party can represent "80% of the moderate voters" in American society and liberate the American people from the two-party system.

However, according to U.S. law, the establishment of a political party eligible to participate in elections requires a complex certification process. Public opinion in the U.S. remains cautiously skeptical about the political prospects of the "American Party" because the Republican and Democratic parties have long dominated and controlled U.S. politics since the Civil War. A newly established party looking to shake the long-standing political structure in the U.S. will face numerous obstacles. #BTC#