Happy Friday. It's nice to be back in your inboxes after my trip to Beijing and Shanghai.
Situational awareness: President Trump has canceled Secretary of State Mike Pompeo's North Korea trip due to lack of "sufficient progress" in denuclearization. Sanctions related to North Korea may return to the forefront of U.S. policy towards China if Trump believes Beijing has eased off on the maximum pressure campaign.
- According to unconfirmed reports, Chinese President Xi Jinping may travel to Pyongyang in early September for the DPRK’s 70th founding anniversary. It is unlikely he would attend if North Korean leader Kim Jong-un thought he was still squeezing North Korea at America’s behest.