Kim and Trump. Photo: Kevin Lim/The Strait Times via Getty Images

The big takeaway from the Singapore summit between President Trump and North Korean leader Kim Jong-un was a four-point document, signed by both leaders, committing their governments to the pursuit of peace.

The big picture: The deal's language around the process of denuclearization is vague, as North Korea wanted it to be. But experts say the short-term risk of military conflict between the two countries has dropped from "fire and fury" levels to nearly zero — a win for both sides, and the rest of the world.

1. New US-North Korea relations

The United States and the DPRK commit to establish new US-DPRK relations in accordance with the desire of the peoples of the two countries for peace and prosperity.

  • What it means: It's the broad declaration of peace experts were expecting would come out of the summit.
2. Lasting and stable peace

The United States and the DPRK will join their efforts to build a lasting and stable peace regime on the Korean peninsula.

  • What it means: More specifically, Trump on Tuesday committed to ending joint U.S.-South Korean military exercises — a big concession to North Korea and a win for Beijing as well.
3. Denuclearization

Reaffirming the April 27, 2018 Panmunjom Declaration, the DPRK commits to work towards the complete denuclearization of the Korean peninsula.

  • What it means: This follows North Korea's commitment to South Korea in April. It's not clear whether the leaders decided on a specific framework for denuclearization and verification.
4. Recovering POW/MIA

The United States and the DPRK commit to recovering POW/MIA including the immediate repatriation of those already identified.

  • What it means: Per Stars and Stripes, "Remains of an estimated 5,300 missing American service members are in North Korea and potentially recoverable."

Worth noting: The terms are strikingly similar to those of the June 1993 deal struck between then-President Clinton and Kim Jong Il, which North Korea eventually violated.

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