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.

Go deeper:

Go deeper

Judge orders Eric Trump to testify in New York probe before election

Photo: Ira L. Black/Corbis via Getty Images

A judge on Wednesday ordered Eric Trump to comply with a subpoena to testify in a New York probe into his family business before the presidential election.

The state of play: New York Attorney General Letitia James (D) last month said her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether President Trump and his company improperly inflated the value of its assets on financial statements.

42 mins ago - Podcasts

Reid Hoffman and Mark Pincus on the rise of Silicon Valley SPACs

Silicon Valley venture capitalists are no longer content with investing in startups and then eventually handing them off. Instead, many are now forming SPACs, or blank-check acquisition companies, to ride tech unicorns into the public markets themselves.

Axios Re:Cap digs into this trend with the co-founders of a new tech SPAC called Reinvent Technology Partners: Reid Hoffman, a co-founder of LinkedIn and partner at Greylock, and Mark Pincus, the founder and former CEO of Zynga.

Updated 56 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 31,717,955 — Total deaths: 973,014 Total recoveries: 21,795,005Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 6,913,046 — Total deaths: 201,319 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Fauci clashes with Rand Paul at COVID hearing: "You're not listening" — FDA chief vows agency will not accept political pressure on coronavirus vaccine.
  5. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  6. Sports: Less travel is causing the NBA to see better basketball.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!