Based on what's published on the America Party website and in Elon Musk's posts, the new party promises to focus on reducing U.S. external debt, modernizing the military with AI-powered robotics, and positioning the U.S. as a global leader in AI development.

WASHINGTON, July 5 (Reuters) - The dispute between Republican President Donald Trump and his main campaign financier Elon Musk took another fractious turn on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump's "big, beautiful" tax bill would bankrupt America.