trump's economic system is not anything resembling socialism. what it is is an old tory economic system called mercantilism, associated with the british and canadian tories.
canada used to have a fair amount of state owned industry, and it was mostly set up by the old tories. this was sold off in the 80s and 90s. i agree with the elder trudeau, who vociferously argue this was a tremendous mistake canada would live to regret.