Secretary of State Mike Pompeo. Photo: Deng Min/China News Service/VCG via Getty Images

Following the announcement that North Korean leader Kim Jong-un agreed to "permanently dismantle" his main nuclear complex, Secretary of State Mike Pompeo said the U.S. "is prepared to engage immediately in negotiations to transform U.S.-DPRK relations," and has invited North Korean Foreign Minister Ri Yong-ho to meet him in New York City next week.

Why it matters: This comes after President Trump had directed Pompeo to cancel his August trip to North Korea, saying the country was not "making sufficient progress with respect to denuclearization." But yesterday, Kim promised South Korean President Moon Jae-in that he would close his country's main nuclear site, adding that he'd only do so if the U.S. takes "corresponding measures." Pompeo's response shows that the Trump administration is willing to resume working with North Korea toward denuclearization.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.