North Korea the next frontier for United States businesses?

Glen Norman
June 15, 2018

"We are hopeful this summit will have set the conditions for future successful talks", Pompeo said yesterday evening. "I think things could work out very nicely".

For now, though, both Trump and Kim are scheduled to fly back to their homes after the summit on Tuesday. Following the initial greeting, President Trump and Chairman Kim will participate in a one-on-one meeting, with translators only, an expanded bilateral meeting, and a working lunch. USA officials scheduled to take part in Tuesday's expanded meeting will include Pompeo, Chief of Staff John Kelly, and National Security Adviser John Bolton.

Pompeo said Kim and the North Koreans proclaimed they are willing to denuclearize, and "we are eager to see if those words prove honest".

But before he celebrates, Trump meets North Korea's Kim Jong Un in a highly anticipated summit on Tuesday.

It is also Kim's longest overseas visit as a leader.

Yet Trump and Kim have yet to agree even on how to define denuclearization of the Korean peninsula - the stated goal of the meeting.

Reaction from USA allies will also be watched closely as Trump continues to alienate traditional American partners through trade tariffs.

That was a reversal from the administration's previous all-or-nothing stance.

Mr Kim and Mr Trump arrived in tropical Singapore yesterday for the first ever face-to-face meeting by leaders of two countries that have been enemies since the 1950-1953 Korean War. Senior diplomats from the United States and North Korea had at least two rounds of talks on Monday to hammer out a potential agreement to dismantle the regime's nuclear weapons program in exchange for security guarantees. Pyongyang wants a step-by-step approach that would include rewards such as relaxed economic sanctions and security assurances along the way.

Sanctions on North Korea would remain in place until that had happened, Mr Pompeo said.

Mr Trump withdrew the United States from the 2015 Iran nuclear deal, which the Obama administration had reached with Iran, Britain, France, Germany, China and Russian Federation.

The American president expressed confidence that Kim will take him up on this "one-shot opportunity" to help improve North Korea's standard of living.

It wasn't immediately clear what specific progress, if any, had been made in preliminary discussions between US and North Korean officials in the run-up to the Tuesday summit.

America is hoping to be able to convince Pyongyang to get rid of its nuclear weapons. "They still want to see North Korea give in to the United States demands first", said Cho Seong-ryoul, a senior researcher at the Institute for National Security Strategy.

Trump's summit with Kim will address the most contentious part of those talks, to include the US and possibly China, and could set the table for progress despite a walking back of expectations.

Trump also briefed Moon about preparations for the summit, according to the presidential Blue House. Sources told Axios that measure was conditional upon what Kim was willing to give the return.

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