Donald Trump in talks to set up his own political party - reports

Donald Trump has reportedly discussed setting up his own political party as he prepares to leave the presidency amidst divisions within the Republican Party.

Trump raised the issue with aides in the past week, suggesting he would call it the 'Patriot Party', according to the Wall Street Journal.

The White House declined to comment and it's unclear whether Trump is serious in his plans to form a third political party, which would require significant resources to set up.

Trump has feuded with Republican leaders in recent months, including Senate Majority Leader Mitch McConnell - who has blamed the President for the deadly mob that attacked the Capitol on January 6.

"The mob was fed lies," McConnell said on the Senate floor as it prepares for a second impeachment trial over Trump's involvement in the insurrection.

"They were provoked by the President and other powerful people."

Trump meanwhile has promised to remain a figure on the national stage. 

"Now, as I prepare to hand power over to a new administration at noon on Wednesday, I want you to know that the movement we started is only just beginning," he said during his farewell address on Tuesday (local time).

Speculation has continued to grow over whether Trump will run for the presidency again in 2024.

At the White House Christmas party in December he was heard saying: "It's been an amazing four years. We're trying to do another four years, otherwise, I'll see you in four years."

However, there have recently been reports Trump has been backing away from running again as his support wavers in the aftermath of the Capitol riots.

In interviews with Politico, more than half a dozen Republicans who either worked for or supported Trump say he is unlikely to run again - some said even if he did, they wouldn't support him. will be live-updating events from President-elect Joe Biden's inauguration from 4am, while The AM Show will have live coverage and expert opinion from 5:30am.