US and North Korea summit ends abruptly after talks between Donald Trump and Kim Jong Un break down
A summit between US President Donald Trump and North Korea’s Kim Jong Un has ended abruptly with no agreement reached.
The pair were expected to conclude a second day of talks with a lunch and signing ceremony in Hanoi, Vietnam.
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South Korean shares fell sharply, with the country’s stock exchange – the Kospi – dropping 1.76 per cent.
Trump said the talks broke down due to Kim’s demand for all US sanctions on North Korea to be lifted.
He said Kim was willing to dismantle North Korea’s main nuclear facility but wanted all sanctions scrapped.
“Basically, they wanted the sanctions lifted in their entirety, but we couldn't do that … we had to walk away from it," he said during a press conference.
The two leaders had aimed to improve relations between the US and North Korea and tackle the issue of denuclearisation and initially struck a positive tone.
Trump said there was “no rush” to agree a deal on denuclearisation and said positive progress had been made over the two days.
But a scheduled lunch and joint agreement signing ceremony was swiftly cancelled by the White House.
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The US ramped up sanctions in 2017 when North Korea conducted a number of nuclear and missile tests.
Trump did not rule out a third summit in order to break the deadlock but said neither side had yet committed to another round of talks.
“No agreement was reached at this time, but their respective teams look forward to meeting in the future,” White House press secretary Sarah Sanders said in a statement.