Rep. Norcross (D-NJ): I'm Optimistic But Cautious About North Korea
*By Alisha Haridasani*
Maintaining diplomatic momentum after the historic meeting Friday between the North Korean leader Kim Jung-un and President Moon Jae-in of South Korea will likely fall on the shoulders of President Trump, who will have his own summit with Kim next month.
“I’m sure Seoul is reaching out to their Washington counterparts and coaching them in how to deal with the North Koreans and how to achieve an outcome where all three parties, to some degree, are at least satisfied with the outcome,” said Andrew Jeong, reporter at the Wall Street Journal in Seoul.
Kim and Moon agreed Friday to rid the Korean peninsula of nuclear weapons, a pledge they have made before, and to negotiate a formal end to the Korean War, which was paused in 1953 without a peace treaty. The bold, if not entirely new, statements did not include any details about how the leaders would achieve their goals.
Success, analysts said, would depend on how Trump’s meeting with Kim goes. Announced earlier this month, and scheduled for May, it would be the first meeting between a sitting American president and a North Korean leader. Former President Jimmy Carter met with Kim’s grandfather, Kim Il Sung, on a visit to North Korea in 1994.
According to Rep. Don Norcross (D-NJ), the president will have to convince North Korea to agree to verification that it is living up to its promises. "North Korea has a history of saying one thing and doing something very different," he said.
North Korea has pledged to abandon its nuclear program several times since 1985, when it signed the Nuclear Non-Proliferation Treaty, only to withdraw and backtrack from earlier agreements.
"As President Reagan used to say, trust but we need to verify," said Norcross.
Though much remains to be negotiated, and success is a long way off, Trump said on Twitter that the United States “should be very proud of what is taking place in Korea.” In an [official statement](https://www.whitehouse.gov/briefings-statements/statement-press-secretary-inter-korean-summit/), the White House press secretary said the administration was “hopeful that talks will achieve progress toward a future of peace and prosperity for the entire Korean Peninsula,” and said the U.S. “appreciates the close coordination with our ally,” South Korea.
North Korea has pledged to abandon its nuclear program several times since 1985, when it signed the Nuclear Non-Proliferation Treaty, only to withdraw and backtrack from earlier agreements.
The dramatic meeting Friday between Kim and Moon took place in the demilitarized zone that divides their two countries as it has since the end of the war. Kim reached across the border, shook Moon’s hand, and then became the first North Korean leader to step foot in South Korea. That symbolic step set the tone for the rest of their seemingly friendly meeting.
If future talks are successful at ending the more than half century of enmity, the people of North Korea stand to benefit most, said Jeong of the Wall Street Journal.
Economic sanctions have crippled the country, and the government’s authoritarian rule under the Kim family has left its citizens on the brink of starvation for years.
“If this peace comes, this could mean that the North has more cash and more capital to spend on its economy,” Jeong said.
For full interview, [click here](https://cheddar.com/videos/congressman-norcross-d-nj-says-the-opioid-crisis-has-killed-too-many-of-his-constituents).
Inflation remains hot as the January PPI has increased by 1 percent, twice what analysts had been expecting with a jump of 9.7 over the year. Beth Ann Bovino, the U.S. chief economist, for S&P Global Ratings, joined Cheddar News to discuss the rapid pace of inflation alongside higher wages, predicting the Federal Reserve will act quickly and forcefully this year. "They haven't changed their forecast, yet, that's gonna come out soon. But we expect that a March rate hike is basically pretty much baked in the cake," she said. "We think six rate hikes in total for 2022."
For black history month, Cheddar is highlighting black business leaders who are driving the need for representation forward. On February 10, the U.S. Chamber of Commerce hosted an event called 'Developing the Black-Owned Business Ecosystem.' The virtual event was organized under the lobbying group's two initiatives -- the Equality of Opportunity Initiative, and the Coalition to Back Black Businesses. The event highlighted the developments needed to develop more black-owned businesses in the U.S. Dr. Anthony Wilbon, Dean of the School of Business at Howard University, joined Cheddar News' Closing Bell to discuss his experience as a speaker at the event.
A newly declassified letter by senators Ron Wyden and Martin Heinrich claimed the CIA. has been conducting a Secret Surveillance Program which has been collecting a bulk of data from American citizens. The letter which was written in April of 2021 urges the CIA to come clean about the kind of data it collects and how many Americans have been impacted. According to these two senators, the program did not have the safeguards of congressional oversight.
Art Hogan, Chief Market Strategist at National Securities, joined Cheddar News' Closing Bell, where he says investors are taking a wait-and-see approach when it comes to the situation between Russia and the Ukraine and elaborates on the impact higher oil prices stemming from the conflict would have on the market.
Last week, Senators Ron Wyden of Oregon and Martin Heinrich of New Mexico, Democrats on the Senate Intelligence Committee, wrote a a letter airing concerns that the CIA is collecting the data of American citizens without their consent. The lawmakers fear that the program might be exploiting private data. Morgan Wright, the chief security advisor at cybersecurity firm SentinelOne, joined Cheddar News to discuss the ramifications of the letter. "We don't have all the dots in one place to connect them," said Wright, cautioning against jumping to conclusions.
Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov said that diplomacy is still possible, while U.S. officials warn that an attack on Ukraine is imminent. Cheddar News speaks with James Astill, Washington bureau chief of The Economist on the latest developments in Eastern Europe.
As the number of Russian troops rose to 130,000 along its Ukrainian border, hopes for a diplomatic solution remain among world leaders. Jason McMann, head of geopolitical risk analysis at Morning Consult, joined Cheddar News to break down the fluid situation. "We saw signs pointing towards an increase in tensions between Ukraine and Russia, whereas today we're seeing some signs that the Russian government may be willing to continue down a path of diplomatic negotiations to try and find some sort of non-military solution," he said.
Nancy Pelosi and House Democratic leaders are now planning to amend the stop trading on congressional knowledge act, otherwise known as the 'Stock' Act. This 2012 law governs how members disclose the purchase or sale of stocks and amending it would close a loophole, eliminating the trading of individual stocks by members of congress. Pelosi has consistently opposed a ban on stock trading by lawmakers and congressional staff...so what's changed? Kedric Payne, Vice President of Campaign Legal Center, joins Cheddar News to discuss.
In a 5-4 vote, the U.S. Supreme Court allowed for a controversial new version of the Alabama congressional map to remain in place. The lower court had previously ordered that the state must redraw that congressional map because it violates the Voting Rights Act by diluting the political power of Black voters. Redistricting expert Yurij Rudensky joins Cheddar News to weigh in.
