North Korea's latest round of short- and long-range missile tests come at the same time that South Korea is also testing missiles and North and South Korean leaders are exchanging messages about peace talks. What to make of these seemingly contradictory developments? I argue for putting emphasis on prospects for diplomacy between North and South, and between North Korea and the US. The Biden administration should return to the 2005 agreement on "action for action," which in particular means gradually reducing sanctions on the North in exchange for a moratorium on missile testing.