I believe this is really just a return to the way things used to be, before the US decided to intervene in WWII and had to find a way to pay for the massive cost of that. Conservative and liberal are not opposites like everybody thinks these days. Conservative and progressive are opposites. Liberal and authoritarian are opposites. Both parties are (or should be) focused on the American ideal of liberalism and representative government chosen by the people while either preserving traditional values or advocating for enlightenment values.
However, real life is not that cut and dry, politics are messy, parties don’t fall exactly along these lines and the media plays a part in dictating who should believe what. But in general I think Trump is an indicator that we’re headed for a more traditional alignment of values. Who knows, perhaps a viable third party will emerge from this. A Conservative party, a progressive party, and a Bretton Woods establishment party.