Two main points:

The summit left many question marks. There are substantive gaps between U.S. policy statements before the summit on the need for "full, irreversible and verifiable" denuclearization and the joint statement signed at the end of the summit, which only referred to "complete denuclearization."

Trump's readiness to accept Kim's demand to halt U.S. military exercises with South Korea is a retreat by the U.S. and an acceptance of China's "freeze-for-freeze" approach. The Israeli foreign ministry analysts note that the U.S. had previously rejected the Chinese position.

"Regardless of the smiles in the summit many in Japan, South Korea and the U.S. Congress doubt that North Korea is sincere in its intentions. Our assessment is that regardless of President Trump's statements about quick changes that are expected in North Korean policy, the road the real and substantive change, if it ever happens, will be long and slow."