BUFFALO, N.Y. — Cautiously optimistic: That's how one might describe Sen. Kirsten Gillibrand's take on the upcoming meeting between President Trump and North Korean Leader Kim Jong-un.

"If you can bring these two parties together, if you can bring the world community to support the denuclearization of North Korea, you can create more stability regionally, you create a future of economic growth for that country and you can create a more stable world," said Gillibrand.

Trump will meet with Kim Jong-un after a brief and contentious G7 meeting in Canada. Trump has come under heavy criticism by Canadian Prime Minister Justin Trudeau for his tariffs on steel and aluminum imports, a move Gillibrand thinks will ultimately hurt Americans.

"I think President Trump is wrong in instituting these tariffs on one of our strongest allies. We know as Western New Yorkers our trade with Canada is vital to our local economy. So, it's going to increase costs, it's going to raise prices, it's going to hurt middle-class, hardworking families here in Niagara and throughout Western New York," said Gillibrand.

Upon leaving the G7 summit Saturday, Trump said Kim Jong-un has a one-time chance to make a deal for his country. 

"What we agree to out in Singapore isn't necessarily going to change the policy either of the North Koreans or of the U.S. So, we don't want to overreact to anything," said Fred Floss, Buffalo State economics professor.

Floss says whatever happens in Singapore is unlikely to have any immediate impact on the economy like the G7 summit.

"I think we're going to see very large moves in the stock market and then by Wednesday, they will have come back to where they are today. It's not going be a big deal. Now, two months from now or three months from now, we may have a very different interpretation depending on how the policies change behind the discussions and the wars of words we've over the last few days," said Floss.     

Now it remains to be seen whether the president can turn this historic meeting into a major diplomatic victory.