The latter. Our Left is too stupid to recognize that the fascists, of both the German and Italian varieties, were, indeed, Socialists/Collectivists. They have used “fascist” as an epithet to be directed against anyone on the Right who disagrees with and thwarts their plans, for decades. The reality of what the Fascists were has no bearing on this, to them. The word is an epithet only for them, no logical thought involved.
Fascists are big-government totalitarians.
As far as I can tell, Trump favors smaller government.
How does that make him a fascist?
The dupes of the totalitarian globalists use the words “fascist” and “racist” like little children. They may as well add “nyah!” to it.
If I recall correctly, the very term fascist is derived from Mussolini’s symbol of the “fascisti,” a bundle of sticks (or wheat?) COLLECTED together. A symbol of collectivism...