According to historian Niall Ferguson, Trump poses no danger to American democracy.

• Historian Niall Ferguson stated on CNBC on Friday that claims that Donald Trump poses a threat to U.S. democracy and would become a tyrant have been weakened by his first term's legacy.
• Ferguson stated that the system successfully contained Trump's impulses in 2020 and 2021, and he believes it will do so again.

Historian Niall Ferguson stated on Friday that the claims that former U.S. President Donald Trump poses a threat to the country's democracy have been diminished due to his first term's legacy.

The argument that Donald Trump would end democracy and establish American fascism was exaggerated due to the outcome of his first term, as it was stated in 2016 that he would be a tyrant, according to Ferguson at the Ambrosetti Forum.

Ferguson believed that Trump's conduct on January 6, 2021 and his attempt to overturn the outcome of the 2020 election were his greatest weakness, and that it would mark the end of his political career. However, he was mistaken, as Trump is now back in politics.

On January 6, 2021, there were intense displays of rioting, vandalism, and looting at the U.S. Capitol, which originated as demonstrations against Joe Biden's victory over Trump in the 2020 presidential election.

In 2022, a select committee report revealed that Trump repeatedly tried to "discredit the election process," made false assertions about the legitimacy of the outcome, and committed a "neglect of duty" by refusing to stop the mob.

Ferguson stated that the system successfully contained Trump's impulses in 2020 and 2021, and he believes it would do so again if Trump were to become the first president since Grover Cleveland to have two non-consecutive terms.

Ferguson, a senior fellow at the Hoover Institution and author of "The Ascent of Money," stated that although this, ordinary U.S. voters would now view Democrat claims that Trump threatens democracy as less compelling than before, as they have already experienced a Trump presidency.

Trump is currently facing a federal criminal investigation for election interference, in addition to being involved in several other scandals, including being found guilty of sexual abuse in a civil case, being convicted of hush money payments to porn star Stormy Daniels, and being ordered to pay hundreds of millions in a civil fraud case.

On Friday, Ferguson stated on CNBC that Kamala Harris, Trump's opponent and the Democratic presidential nominee, would face challenges due to her past experience as Vice President under Joe Biden.

Although the U.S. economy has remained robust, numerous voters are unhappy with the recent rise in inflation and the increase in both legal and illegal immigration.

Ferguson stated that the significant disparities between Trump and Harris lie in their policy proposals regarding taxation and regulation.

Harris has proposed a lower tax rate of 28% on long-term capital gains for households with an annual income of $1 million or more, compared to Biden's proposed rate of 39.6% in his 2025 fiscal year budget. The current top rate for long-term capital gains is 20%, which is higher than the rate proposed by Trump, who wants to reduce it to 15%.

The winner of the November election will face a significant "fiscal problem" due to the unsustainable size of the US deficit, as Ferguson explained.

Ferguson stated that Trump will not address the issue by increasing direct taxes, but he believes Harris would handle it by raising taxes. Trump's argument is that he can solve the problem by increasing the growth rate, and he has a valid point because the economy under Trump grew and was not inflationary.

— CNBC's Rebecca Picciotto contributed to this story.