Donald Trump delivers his farewell address
Mr Trump spoke to aides and people close to him last week about launching his own party – which would be called the “Patriot Party”. It comes as Joe Biden will be sworn in as the 46th president of the United States today.
The Wall Street Journal cited people familiar with the matter as saying Mr Trump had held discussions about starting a new party.
The move would help the 74-year-old continue his influence after he leaves office.
Mr Trump lost the US election in November to Mr Biden.
Mr Biden won the presidency with 306 electoral college votes to Mr Trump’s 232.
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Earlier this month, supporters of Mr Trump stormed the US Capitol building in protest at his election loss – leading to the deaths of five people.
Mr Trump was accused of inciting his supporters into violence with a speech at a rally in Washington DC.
He then became the first president to be impeached twice when some Republicans voted with House Democrats on a charge of inciting insurrection.
Mr Trump could be blocked from ever holding public office again if more Republicans back his conviction during a Senate trial.
It comes as Boris Johnson has said he looks forward to working closely with president-elect Mr Biden.
In a statement ahead of his inauguration, the Prime Minister said: “I warmly congratulate Joe Biden on his historic inauguration as 46th president of the United States and look forward to working closely with his new administration as we defeat Covid and build back better from the pandemic
“In our fight against Covid and across climate change, defence, security and in promoting and defending democracy, our goals are the same and our nations will work hand in hand to achieve them.
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“I look forward to welcoming him to Carbis Bay for the G7 and Glasgow for Cop as we join forces to protect our planet.
“Only through international cooperation can we truly overcome the shared challenges which we face.”
Meanwhile, the Home Secretary said Mr Biden’s inauguration marks the start of a “new political era”.
Priti Patel told Sky News: “There is a change in presidency but, as ever, when administrations change, the world changes, the direction of travel – from politicians in particular, political leaders – always reflect some of the challenges and changes that we see going on domestically and internationally.
“A new political era is now starting in America and there is a lot to do globally, there really is, as well as in the US – certainly uniting the United States at the end of the Trump administration and as Joe Biden takes over.
“But also stepping up to confront and address many of the global challenges that we face collectively, and America has an enormous role to play in terms of global leadership and we look forward to supporting America on many of those challenges.”
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