President Donald Trump says he's not worried about the political ramifications of Elon Musk's new political party.

"I think it'll help us," Trump said about Elon Musk's "America Party." He added that "third parties have always been good for me."

Elon Musk says he has formed a new political party called the America Party. But it remains unclear what formal steps, if any, he has taken to establish it.