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.

The tech billionaire’s effort to create a new political party, called the America Party, comes amid a ramped-up feud with the president over his new domestic policy law.

Trump calls Musk's new America Party a "train wreck" after billionaire announced third-party formation following poll support.