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

Elon Musk announced the creation of the 'America Party' after fighting with President Donald Trump over government spending. Experts say it will be tough to achieve success

Musk said on Saturday that he was starting the “America Party” after Trump signed his signature bill of tax breaks and spending cuts. The bill was criticized by Musk and fiscal hawks for raising the national deficit, while it was criticized by Democrats for its massive cuts to Medicaid.