*By Christian Smith*
South Koreans responded with a mix of optimism and worry Tuesday after President Trump announced he would suspend joint military exercises with South Korea as Kim Jong-un considers how to dismantle North Korea's nuclear arsenal.
President Moon Jae-In of South Korea [watched on TV and smiled](https://www.facebook.com/KoreaClickers/photos/rpp.181274814520/10156484091904521/?type=3&theater) as the American president and the North Korean leader met in Singapore. But Trump's unexpected announcement that he would stop joint military drills made some of America's allies in South Korea uneasy, according to Martyn Williams, editor at NorthKoreaTech.org.
"The right wing in South Korea is already not very pleased with these military drills stopping taking place," Williams said in an interview with Cheddar.
The president's statement, which appeared to be an off-the-cuff comment in a discussion with reporters after his meeting with Kim, was not part of the joint statement signed by the two leaders. The United States and South Korea conduct regular war games to prepare for the possibility of a conflict with North Korea, and there are about 28,500 U.S. troops stationed in South Korea.
Trump had said he hoped to strike a deal with Kim to eliminate North Korea's nuclear program, and touted the "very comprehensive" statement the leaders agreed to at the summit. But Williams said denuclearization will take more negotiations.
"I think it was a good first step, but what comes next is the most important thing," Williams said.
For full interview, [click here](https://cheddar.com/videos/the-winners-and-losers-of-the-north-korea-summit).
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
A new report finds the Department of Government Efficiency’s remaking of the federal workforce has battered the Washington job market and put more households in the metropolitan area in financial distress.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. His approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
