Drudge Report links to CNBC reporting President Trump has cancelled the Singapore summit with North Korea’s leader Kim Jong Un. The report includes the text of the letter Trump sent Kim explaining his belief that, given angry statements by the Norks, the meeting would not be useful at this time.
I guess we know who is the master negotiator, as Scott Adams described Trump. Sweet talk about a Nobel Peace Prize apparently hasn’t gone to Trump’s head, as some had feared.
This is classical Bargaining 101. The party which appears to want or need the agreement less, normally ends up with the better deal.
Trump just signalled he isn’t desperate for a deal with Kim, after waxing rhapsodic about the many benefits North Korea could achieve out of it. Notice how he has said little about what we hope to gain.
I expect the next thing we’ll hear is that trade sanctions on China just got tougher, signalling to China we don’t appreciate them telling the Norks to play hardball. This multi-partnered “dance” will be a master class in bargaining ... watch and learn.
