Sources close to Mr Weld say he could begin his bid to take on the US President as he headlines a ‘Politics and Eggs’ session on February 26. The source told WMUR-TV that Mr Weld would announce his intentions at the session in New Hampshire, which has previously been an important state for White House hopefuls. But Mr Weld remained tight-lipped on the suggestions, telling Fox News: “I’m not going to say what I’m going to say until I get there.”
He added: “You’ve got to wait until Friday.”
The ‘Politics and Eggs’ meeting is a popular forum for presidential candidates and potential White House contenders.
Mr Weld served as governor between 1991 and 1997.
However in 2016, Mr Weld left the party to stand as a candidate for the vice-presidency as part of the Libertarian Party.
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The 73-year-old, who hails from New York, has been a vocal critic of the Trump administration and his bid could topple the President.
Mr Weld hopes to be chosen to go up against Trump for the right to represent the Republican party at the 2020 election.
However the newly elected state party chair Steve Stepanek told Fox News: “As far as we’re concerned he’s a Libertarian and he can’t flip-flop back and forth for political expediency.
“We don’t consider him a Republican. We don’t want him back as a Republican.”
Mr Stepanek, who served as co-chair of Trump’s 2016 presidential campaign in New Hampshire, added: “If there is a legitimate national Republican candidate, then under the bylaws I have to remain neutral.
“I’m not going to be supporting them by any means, I’m just not going to be going against them.”
The move comes hours after Trump was posted to sign off a deal on the Mexican wall without money in a bid to avert another government shutdown.
Despite recent difficulties, Trump remains popular among his fellow Republicans.