With the resurgence of US-China trade tensions and Friday’s jobs number (which confirmed that US labor-market growth is beginning to slow) raising expectations for more Fed rate cuts just days after Fed Chairman Powell appeared to suggest during the Q&A that the July cut might be a “one and done”, President Trump is finally getting around to addressing one of the other major developments from the past week that had, until now, seemingly gotten lost in the shuffle: North Korea.
Over the past couple of weeks, North Korea has carried out several short-range missile tests. Yesterday, we cited media reports that the Pentagon had tracked a projectile launched from North Korea early Friday morning (local time), citing an unnamed senior official, who further added it appeared similar to others launched over the past weeks.
JUST IN: North Korea fires two short range ballistic missiles, both landing in the sea, multiple US officials say; 3rd missile launch in 2 weeks. pic.twitter.com/4ym6UWE0bS
— MSNBC (@MSNBC) August 1, 2019
To be sure, Trump has taken news of these tests in stride. Following reports of the short-range missile launches, which, as Trump once again pointed out, don’t violate Kim’s agreement with Trump to refrain from ICBM launches, Trump reportedly appeared “unbothered” by Pyongyang’s latest salvos. When asked if he was worried about them, he told a reporter “no, not at all.”
But in a series of tweets on Friday morning, the President warned Kim Jong Un not to “disappoint me with a violation of trust”, adding that “there is far too much for North Korea to gain – the potential as a Country, under Kim Jong Un’s leadership, is unlimited.”
However, “there is also far too much to lose.” To fulfill Kim’s “great and beautiful vision for his country” the North Korean leader needs “the United States, with me as President” to “make that vision come true.”
Trump finished by asserting that Kim “will do the right thing because he is far too smart not to, and he does not want to disappoint his friend, President Trump!”
Kim Jong Un and North Korea tested 3 short range missiles over the last number of days. These missiles tests are not a violation of our signed Singapore agreement, nor was there discussion of short range missiles when we shook hands. There may be a United Nations violation, but..
— Donald J. Trump (@realDonaldTrump) August 2, 2019
…..Chairman Kim does not want to disappoint me with a violation of trust, there is far too much for North Korea to gain – the potential as a Country, under Kim Jong Un’s leadership, is unlimited. Also, there is far too much to lose. I may be wrong, but I believe that……
— Donald J. Trump (@realDonaldTrump) August 2, 2019
….Chariman Kim has a great and beautiful vision for his country, and only the United States, with me as President, can make that vision come true. He will do the right thing because he is far too smart not to, and he does not want to disappoint his friend, President Trump!
— Donald J. Trump (@realDonaldTrump) August 2, 2019
For what it’s worth, the North has said its missile tests were a warning to South Korea, which plans to resume military exercises with the US later this month.
Trump also insisted that the tests are “not a violation of our signed Singapore agreement”…though they might constitute a violation of United Nations sanctions…but that’s besides the point. But another thing to consider: Did Kim get “the tap” from Beijing to start acting up as the latest trade truce between the world’s two largest economies started to unravel? If so, might we expect more brinksmanship from the North in the coming weeks?
via ZeroHedge News https://ift.tt/2YBCgIL Tyler Durden