Trump has publicly stated his intent to meet Kim Jong Un later in 2026 and directed aides to explore options around the November APEC summit in China, with speculation that any encounter could occur in Pyongyang. Former U.S. envoy Stephen Biegun noted in mid-September that North Korea has not closed the door on talks, though Pyongyang’s recent statements reject denuclearization and frame U.S. alliances as justification for nuclear expansion. Missile launches have continued in response to allied exercises, while Trump has scaled back some drills. North Korea’s deepening ties with Russia and China, combined with the absence of verified high-level preparations or policy concessions, keep the implied probability of a physical visit by year-end low in trader consensus. A Trump-Xi meeting later this month offers one near-term diplomatic window.