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North Korea's Kim Jong-un and South Korea's Moon Jae, after signing their declaration at the Peace House. (Korea Summit Press Pool/Getty Images)

The two Koreas' "new era of peace" raises the bar for President Trump's summit with North Korea: He'll go in with credit and momentum, but now will want an even splashier accomplishment than yesterday's path to officially ending the Korean War.

Why it matters: "This Korea summit sets the baseline — no war — and puts it on DJT and the summit with [Kim Jong-un] to pry the weapons out of the [North Korean] leader's hands," says Victor Cha, Korea chair at the Center for Strategic and International Studies.

Cha, Trump's original choice to be ambassador to South Korea, told me the president "gets credit [for yesterday's denuclearization announcement] in the sense that the sanctions campaign has put enough pressure on the Kim regime to seek diplomacy as a way to relieve the pressure."

  • "DJT's threats of war over the past year probably motivated both Koreas to declare peace today."
  • "You can't fault the Koreans for wanting peace. They didn't ask to be divided in 1945 by the U.S. and Soviets at the start of the Cold War."
  • "But still, the key to this all being more than just nice-talk is whether the North really will abandon all nuclear weapons and programs."
  • "Not an easy task, but the President has set himself up for this truly monumental negotiation."

AP’s Pyongyang bureau chief, Eric Talmadge, writes that the Koreans' pledge to work together "could complicate matters for Trump, who has raised expectations of a deal with Kim to abandon his nuclear weapons." Trump's summit with Kim Jong-un is expected within weeks, at a location still being negotiated.

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Go deeper

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

3 hours ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.