The stock market has suffered some deep losses in the last month, and that’s mostly investor anxieties over Trump’s tariff threats and a slowdown in the economy from the Biden disaster. But we think there’s a good reason to bet on Trumponomics.

Trump raised tariffs in his first term, and that didn’t prevent big stock market gains over those four years, thanks to his other pro-growth policies. Remember, back then as now, Trump’s critics predicted a stock market collapse. Instead, we had one of the great bull markets in all three major indices.

Past performance doesn’t always guarantee future returns. But often it does.