Former South Carolina governor and congressman Mark Sanford Mark SanfordOn The Money: Business world braces for blue sweep | Federal Reserve chief to outline plans for inflation, economy | Meadows 'not optimistic' about stalemate on coronavirus deal Trump critic Sanford forms anti-debt advocacy group Republicans officially renominate Trump for president MORE said on Sunday that he will challenge President Trump Donald John TrumpFederal prosecutor speaks out, says Barr 'has brought shame' on Justice Dept. Former Pence aide: White House staffers discussed Trump refusing to leave office Progressive group buys domain name of Trump's No. 1 Supreme Court pick MORE in 2020 as a Republican.

"I’m here to tell you now that I am going to get in," he said on "Fox News Sunday."

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"I think we need to have a conversation on what it means to be a Republican," Sanford added. "As a Republican Party, we have lost our way."

The former governor also said he was particularly concerned about the debt and deficit spending.

"We have got to have a national conversation and a Republican conversation on where are we going on debt and deficit," he said.

Former South Carolina Governor Mark Sanford (R) announced exclusively on Fox News Sunday that he will challenge President Trump in the Republican primary. #FNS #FoxNews pic.twitter.com/2xwdSGpW0d — FoxNewsSunday (@FoxNewsSunday) September 8, 2019

When host Chris Wallace Christopher (Chris) WallaceHouse to vote on resolution affirming peaceful transition of power Gayle King calls out Pelosi for calling Trump supporters 'henchmen': 'Egregious language' GOP lawmakers distance themselves from Trump comments on transfer of power MORE told Sanford that he "basically" has "no chance" of defeating Trump, the candidate replied, "I think you probably would have said that same thing to Donald Trump just a matter of months ago as he faced the likes of Jeb Bush and others."

Pressed on whether he believed he had a real chance in 2020, Sanford said, "You never know."

"Let’s go out and force or try and create a conversation on that which is not being talked about in this presidential cycle," he added.

Wallace also questioned Sanford about an extramarital affair that caused a scandal while he was governor.

“I learned a level of humility, a level of empathy that I didn’t have before,” Sanford said. “It is something of great regret. It’s something I’ve apologized extensively for.”

“In contrast to the president, where he says there’s not a single thing that he sort of regrets or apologizes for, I profoundly apologize for that,” he added.

Trump has also been accused of having affairs, notably with adult-film star Stormy Daniels.

Sanford said last week that he was focused on Hurricane Dorian and would wait until after the storm had passed to announce his decision on a White House bid.

He previously said he would give himself until Labor Day to make a choice.

Since announcing his potential White House bid, the former lawmaker has visited New Hampshire and Iowa, causing further speculation that he would launch a campaign.

Sanford could face an uphill battle. The Republican parties in Kansas and Sanford’s home state of South Carolina on Saturday voted to cancel their GOP primaries.

The president has continued to receive support from most Republicans. A recent Morning Consult poll found that 85 percent of them approved of Trump.

Former Massachusetts Gov. William Weld William (Bill) WeldRalph Gants, chief justice of Massachusetts supreme court, dies at 65 The Hill's Campaign Report: Biden visits Kenosha | Trump's double-voting suggestion draws fire | Facebook clamps down on election ads Biden picks up endorsements from nearly 100 Republicans MORE (R) and former Rep. Joe Walsh Joe WalshSunday shows preview: Protests continue over shooting of Blake; coronavirus legislation talks remain at impasse Republicans officially renominate Trump for president Tucker Carlson responds to guest correcting pronunciation of Kamala Harris's name: 'So what?' MORE (R-Ill.) are also challenging Trump for the Republican nomination.

This report was last updated at 10:49 a.m.