Here’s what to expect and what not to expect in the second round Trump-Kim summit

  • Written by MarketWatch
  • Published in Economics
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President Donald Trump and North Korea’s Kim Jung Un at last year’s summit in Singapore.

There may be some flashy headlines coming out of the second meeting between President Donald Trump and North Korean leader Kim Jung Un in Vietnam next week, but foreign-policy analysts say not to expect any big breakthroughs that would dismantle the nuclear program in North Korea, formally end the Korean War, or stop U.S. economic sanctions.

What to expect

Trump himself has lowered expectations for a breakthrough. “I’m in no rush for speed,” he said last week. “We just don’t want testing” of missiles or weapons.

Many policy experts have interpreted Trump’s statement as an indication that his chief objective will not be to achieve complete denuclearization in North Korea. Rather his focus will be ensuring that Kim is in fact following through on his promise to end nuclear testing, as he proclaimed in his New Year’s address.

The U.S., however, has not lifted the sanctions that the U.S. began imposing on North Korea in 2008. It is difficult to precisely gauge the North Korean economy, given that the country treats economic data as state secrets.

Trade between China and North Korea declined 80% to 90% in 2018 compared to 2017, according to official Chinese trade data. That along, with the sanctions imposed by the U.S. as well as other members of the United Nations, have presumably taken a major toll on their economy.

North Korea warned the U.N. on Thursday that it is facing a shortfall of up to 1.4 million tons of food in 2019 and have been forced to almost halve rations, according to a memo reviewed by Reuters[1].

“On the side of the president there is a major investigation going on and there is an opposition majority in Congress and he is frustrated cause he hasn’t gotten funding for the wall” through Congress,” said Scott Snyder, program director on U.S.-Korea Policy at the Council on Foreign Relations.

“This offers an opportunity to have an accomplishment to distract from these other issues,” he said, adding that there is potential for Trump to achieve the Nobel Peace Prize if a resolution is reached.

Realistically, Snyder said that the best possible outcome from the two-day meeting beginning Wednesday is for both nations to establish a shared objective. “If both sides establish a process that will be enough to keep things going but if they can’t achieve that I think many people will see the meeting as a failure.”

What not to expect

Analysts say it’s unlikely that the meetings between Trump and Kim will lead Kim to forfeit all of the country’s nuclear weapons or Trump to lift sanctions.

What is clear though is that both leaders are eager to come out of the meetings with concrete accomplishments, said Victor Cha, a senior adviser and...

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