President Donald Trump's new administration is likely to do away with the White House's National Space Council, a cabinet policy panel that lobbyists at Elon Musk's SpaceX have been pushing to axe, according to three people familiar with the plans.

After heavy lobbying by SpaceX, President Trump now seems poised to disband the White House's National Space Council.

The Space Council is seeking to provide oversight of new commercial space activities, a proposal that's not sitting well with companies like SpaceX.

Elon Musk’s SpaceX could threaten the US Space Council’s longevity under the new Trump administration. Lobbyers and Trump's aids have reportedly been pushing to axe the group as they see it as a waste of time.