As I was finishing a book about Trump, Orban, and Putin last night, I realized that Trumpism is based on two things: power and identity. Here is how it works:
POWER: Trump rejects the notions of objective truth and justice. To him, every transaction, and every relationship, is based purely on power, and has a winner and a loser. As a result, everything he says and does is for the purpose of establishing that he is the most powerful person in the room. Money is relevant here, but only for the purpose of projecting power over others; by itself, it is fairly meaningless.
IDENTITY: Trump sees himself as a white male American billionaire who made himself a winner through hard work, shrewdness, and determination. (His narrative of his life is, of course, not accurate, but it is the perception that counts in this instance). To the extent that you resemble his self-image, you’re OK in his book. And so, Kim, Putin, and Xi may deviate from the model because they’re not Americans, but they remind him of himself in most other respects, so they are to be respected, and even admired. “Winners” of other races, like Muhammad Ali, meet his standard. All others are “losers,” to be manipulated and trampled as he sees fit.
If you’re looking for an explanation of Trump’s behavior at any given time, start with the interplay of these two core beliefs. They will get you where you need to go.