President Trump will meet with North Korean Leader Kim Jong-un in Vietnam this week. As the second summit held between the two leaders, many may be expecting some concrete developments to come from the two-day event.

While President Trump has been publicly optimistic about the summit, many political observers believe it’s far too early to expect any major agreements to be reached between the two nations.

What to Expect from This Week’s Bilateral Meetings

Trump believes that the meeting will have some good results but noted last week that he was “in no rush for speed.”

Before departing for Vietnam on Monday, the President said that “We talk about something that, frankly, he never spoke to anybody about, but we’re speaking and we’re speaking loud, and I think we could have a very good summit, I think we’ll have a very tremendous summit.”

Trump was likely referring to denuclearization and an end to missile testing in North Korea. The politically isolated country had expanded its nuclear ambitions for years, before scaling back its testing in 2018. A lasting peace with North Korea could potentially allow for the withdraw of some troops and military resources from South Korea, drastically cutting U.S. military expenditure.

While trade will likely be on the agenda, it would be premature to expect the signing of any deal. The U.S. has imposed heavy sanctions on North Korea since 2008. President Trump and Congress would want to see evidence of denuclearization and measurable human rights improvements from North Korea before even considering lifting them.

North Korea will be eager to work towards a reduction in sanctions. This year, the country informed the U.N. of a 1.4-million-ton nationwide food shortfall. Rations for citizens have allegedly been halved.

Trade between China and North Korea decreased by 80% in 2018, leaving Kim Jong-un desperate to form stronger ties with historical enemies.

Trump-Kim Formal End to the Korean War?

The 1950-53 Korean War ended in an armistice with no lasting peace treaty. The South/North Korean border is one of the most heavily fortified borders on earth.

Some have speculated that Trump could reach an agreement to formalize a peace treaty this week. South Korean President Moon Jae-in said late last year that it was “only a matter of time” before the war was formally ended. Trump has made no hint of a treaty, but that doesn’t rule it out.

Whatever the outcome of the summit, it shows a mutual willingness to normalize relations and create stability on the Korean Peninsula.

Formal meetings will begin on Wednesday February 27 and will conclude the following Thursday