Elon Musk said he’s carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing on social media that he would form the America Party in response to the president’s sweeping tax cuts law.

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.