Prof. James K. Galbraith shares his views about the dramatic changes in US politics and policy which we experienced in the past year. Europeans are still struggling to understand what produced Donald Trump and how consequential his second term in the White House can be. In the conversation with FEPS Secretary General László Andor, he explores both internal and external factors driving the political changes of our time, which also are reshaping transatlantic relations. Is Trump a conservative who is nostalgic for the 1950s or the 1920s? Or he is responding, in his own way, to contemporary challenges which Europeans are also facing? Can the US go backwards, or at some point it will be going forward again? And what the European response needs to be, especially what concerns strategic (monetary) autonomy. At the end of the conversation, he recommends to our listeners one book written by his father, John Kenneth Galbraith, and a recent one from himself too. James Kenneth Galbraith is an American economist. He is a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin.