### Comment:
If Trump is reelected, his tariffs will likely continue unless China capitulates completely. We’re up because of the promise to the eventual end of the trade war. If it continues, it will continue to drag on the economy.

### REPLY:
China will never capitulate. Why would they? They don’t have elections. Their “short term” view is 100 years. A democracy cannot beat a communist or authoritarian system in a trade war. In can in production or a host of other economics areas, but not in tariffs.

### END.