Trump Leaves Future of North Korean Summit in Kim Jong-un's Hands
*By Alisha Haridasani*
Though President Trump abruptly canceled his planned meeting with North Korea's Kim Jong-un, there's still a possibility the highly-anticipated summit could take place in the future, if the two sides can tamp down their antagonism and agree to a framework for denuclearization, analysts said.
In a [letter](https://twitter.com/realDonaldTrump/status/999686062082535424) Thursday to the North Korean leader, Trump said, “it is inappropriate, at this time, to have this long-planned meeting.” The summit was scheduled to take place on June 12 in Singapore.
"The North Koreans have two choices: They can either choose to overreact and perhaps engage in a heated rhetorical exchange with President Trump in the future," said Lisa Collins, a fellow at the Korea chair at the Center for Strategic and International Studies. "Or they can play it cool and engage with the Trump administration in back-channel communications."
South Korean President Moon Jae-in, a crucial player in setting up the summit, was taken by surprise, describing the abrupt turn of events as “very regretful and disconcerting.”
Trump's letter was sent just hours after North Korea threatened to scuttle the meeting, and several antagonistic comments by Kim, which may have prompted the president to get ahead of the devolving diplomatic situation.
North Korea's threats were inspired, in part, by Vice President Mike Pence’s comments on Fox News on Monday where he warned that if the country doesn’t agree to denuclearization, it would meet the same fate as Libya.
Pence was referring to the case of the former Libyan leader Moammar Gadhafi, who was captured and killed by rebels in 2011 during the Arab Spring. The country had given up its nuclear arsenal in 2003, and the United States helped rebel groups topple him eight years later.
The comments alarmed Kim, who has made clear he would not agree to any sort of regime changes.
“North Korea, on its own side, has referred to denuclearization as a process by which the U.S. first guarantees its security,” Collins said in an interview with Cheddar.
Trump’s letter was a mix of praise for Kim and forceful language. He thanked North Korea for releasing American hostages and reminded Kim that the U.S. nuclear arsenal is “so massive and powerful.”
Trump did, however, keep the door open for a future summit.
“There’s still room for them to agree to have a meeting in the future, it just depends on whether can narrow their difference,” Collins said.
For the full interview, [click here](https://cheddar.com/videos/trump-cancels-summit-with-north-korea).
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.