Many indicators currently are pointing toward yes with the advantage of incumbency, a good economy and a divided and weak democratic party that cannot unite on a message other than opposing Trump.
Impeachment clearly isn't playing which is why dems are now scrambling and supporting the USMCA because they ran on working together and haven't worked with the other side on zip so far.
Let me ask you amore nuanced question, SN. Let's say Trump does indeed improve upon his performance in 2016. Does that still mean a close election in 2020? A massive Reagan-esque landslide where Trump stuns pundits by flipping states such as New Jersey and Oregon? Or something in between?
I'll answer your original question by saying it's too early to tell. Trump could do better, but there's also room for him to do worse. Though I will say that the odds are slightly in his favor at this point.