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Aerial view of the Punggye-ri nuclear test site in North Korea. Photo: DigitalGlobe/38 North via Getty Images

"No, North Korean leader Kim Jong Un isn’t killing his summit with President Trump. Or at least, he’s highly unlikely to," AP's Kim Tong-Hyung writes from Seoul:

Why it matters: The threat "is seen as a move by Kim to gain leverage and establish that he’s entering the crucial nuclear negotiations from a position of strength."

What's happening: North Korea's "Kim Kye-kwan, a vice foreign minister, rejected the administration’s demand that it quickly dismantle its nuclear program as Libya did 15 years ago, singling out John Bolton, Mr. Trump’s new national security adviser, for condemnation." (N.Y. Times)

  • NBC News Pentagon correspondent Hans Nichols calls the statement "a clear backsliding, a clear moving of the goalposts by North Korea."

The White House view ... A source close to Trump tells Axios' Jonathan Swan:

  • "Trump’s Jerusalem decision — and his willingness to endure the harsh blowback and repercussions on the ground there — is very helpful in his other negotiations, NoKo and Iran in particular."
  • "He’s followed through on something that would (and has!) scare any other politician to death. That has to be in the back of your mind if you’re a world leader trying to maneuver in high-stakes negotiations with Trump."

Go deeper

2 hours ago - Health

Pfizer says COVID vaccine over 90% effective in kids

A health care worker preparing a Pfizer-BioNTech coronavirus vaccine dose in New York City on Oct. 21. Photo: Michael M. Santiago/Getty Images

Pfizer and BioNTech said their COVID-19 vaccine was more than 90% effective at protecting children between the ages of 5 and 11 from symptomatic infections from the virus, according to a study posted online by the Food and Drug Administration Friday.

Why it matters: Pfizer is seeking an emergency use authorization to vaccinate children — one of the last groups of Americans still largely ineligible to receive a coronavirus vaccine.

Changing the inflation conversation

Illustration: Annelise Capossela/Axios

Inflation looks like it’ll run hot for longer than plenty of smart people thought it would. The conversation over just how much more Americans will have to pay for their stuff has taken on a new intensity, as supply problems show few signs of fading.

Why it matters: The rate of price growth has remained consistently strong in recent months — a time that some thought would bring cooling prices after an initial reopening spike. What goes on with prices will influence the decisions made by Congress, the Biden Administration, and the Federal Reserve.

The biggest headline from Biden's town hall

President Biden greets attendees during a commercial break in Baltimore last night. Photo: Nicholas Kamm/AFP via Getty Images

What matters from President Biden's town hall with CNN's Anderson Cooper at Baltimore Center Stage on Thursday:

The biggest headline: Biden is jettisoning the corporate tax increases that White House officials have insisted, for the past 10 months, are wildly popular across the country. He admitted he doesn't have the votes.