As the Republican Party braces for aftershocks from President Donald Trump's spectacular clash with Elon Musk, lawmakers and conservative figures are urging détente, fearful of the potential consequences from a prolonged feud.

In an escalation of Elon Musk’s fractured relationship with President Donald Trump and his Republican allies, the Tesla CEO has floated the idea of starting a new political party to rival the two-party system.

In an interview with NBC News, the president also said he assumes his relationship with the tech billionaire is over following their recent falling out.