Trump is using the regulatory and financial power of the federal government to gain as much control over the economy as possible. He can then use that power to enrich himself and his friends and punish his enemies. Since the system he envisions (to say nothing of the aesthetic) resembles that of Saudi Arabia, some commentators have called it “royalism.” Is that accurate?
No, because Putin and Orban have done the same thing. A system that runs on services and patronage is properly described as “feudal.” It is the foundation of organized crime, among other things.