President Donald Trump on Sunday called Elon Musk's plans to form a new political party "ridiculous," launching new barbs at the tech billionaire and saying the Musk ally he once named to lead NASA would have presented a conflict of interest given Musk's business interests in space.

President Donald Trump and Elon Musk are trading public insults after the Tesla billionaire suggested he'll create a new political party, "America Party."

Donald Trump has lashed out at Elon Musk after the billionaire unveiled plans to launch a new US political party, calling him a “train wreck” in an escalation of the feud between the US president and his former ally.