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Kim Jong Un giving his New Year's speech on Dec. 30, 2019. Photo: Jung Yeon-je/AFP via Getty Images

North Korean leader Kim Jong-un said in a New Year's speech that his country would abandon a self-imposed moratorium on testing nuclear weapons and long-range ballistic missiles, declaring that there "will never be denuclearization on the Korean peninsula" unless the U.S. drops its "hostile" policies, according to state media.

Why it matters: North Korea has not conducted a nuclear or long-range missile test in more than two years, hoping for a breakthrough in negotiations spurred by Kim's friendly personal relationship with President Trump, according to the New York Times. Trump has often touted this moratorium as a diplomatic achievement.

The big picture: In earlier comments at a four-day conference for his ruling party, Kim accused the Trump administration of failing to meet a year’s end deadline for concessions in nuclear talks and warned that North Korea will soon reveal a "new strategic weapon," according to AP.

  • Some experts say that North Korea is sensitive to U.S. elections and could avoid engaging in serious negotiations over the next year, especially with President Trump set to face an impeachment trial.

Trump's reaction: The president told reporters in Palm Beach Tuesday evening he got along with Kim, but the North Korean leader "did sign an agreement talking about decnuclearization," he said, referring to the Singapore summit document signed in 2018.

"I think he’s a man of his word, so we’re going to find out."
— Trump on Kim

Between the lines: Following the Singapore summit, Council on Foreign Relations President Richard Haas, writing for Axios, noted that the released statement on decnuclearization was "entirely aspirational" with little substance and "no definitions of denuclearization."

Go deeper: John Bolton hits Trump for bluffing on North Korea nukes

Editor's note: This article has been updated with Trump's comments and more context on the Singapore summit.

Go deeper

Dion Rabouin, author of Markets
39 mins ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Caitlin Owens, author of Vitals
1 hour ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.

3 hours ago - Technology

Big Tech bolts politics

Illustration: Eniola Odetunde/Axios

Big Tech fed politics. Then it bled politics. Now it wants to be dead to politics. 

Why it matters: The social platforms that profited massively on politics and free speech suddenly want a way out — or at least a way to hide until the heat cools.