Chinese Customs reports imports drop from North Korea
- Author: Joey Payne Jul 15, 2017,
Jul 15, 2017, 0:35
The bill would ensure companies working with North Korea are locked out of the American financial system by making the White House "block all transactions that are property of the North Korean government, affiliates, or those that do significant business with North Korea", "block any entity or financial institution implicated in any significant trade in goods or services with North Korea from the USA financial system" and "prohibit any goods made with North Korean labor from entering the United States and to impose sanctions of all entities implicated in North Korean labor trafficking".
North Korea's weapons will soon become more lethal, accurate and able to travel longer distances, according to a usa military intelligence report released Thursday.
North Korean leader Kim Jong Un reacts with scientists and technicians of the DPRK Academy of Defence Science after the test-launch of the intercontinental ballistic missile Hwasong-14 in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang July 5, 2017.
"Whether it's the regime's illegal nuclear weapons program, its provocative ballistic missile tests, its human rights abuses against its own people, or its outrageous and unacceptable detention of Americans, it is time to impose meaningful costs on the North Korean government", he said.
On June 3, the council voted to broaden sanctions on North Korea in a unanimous decision from the council's 15-member nations.
Trump has complained that trade increased between the two despite calling on his Chinese counterpart Xi Jinping to use the nation's unique diplomatic and economic clout over North Korea as leverage.
China is nervous about a nuclear armed North Korea.
US President Donald Trump has been openly expressing disappointment over China's lukewarm stance in curbing its economic trade with North Korea, which reportedly grew nearly 40 percent in the first quarter from a year ago, raising the possibility for broader secondary sanctions.
Experts at 38 North estimated in April that North Korea could have as many as 20 nuclear bombs and could produce one more each month.
Mr Huang said yesterday that total trade rose 10.5 per cent to US$2.55 billion in the first six months of this year compared with the same period a year ago.
The UN sanctions allow trade in items considered "exclusively for livelihood purposes".
The new measures would target Chinese small-and-medium sized financial institutions and shell companies suspected of "funneling cash" into Pyongyang's nuclear and missile programs.
Huang said coal imports dropped by three-quarters in the first half, and all those shipments had been made before February 18.
The bipartisan bill was introduced Thursday by Republican Senator Cory Gardner, who chairs the Senate Foreign Relations Subcommittee on East Asia. Trump even tweeted that they had an "excellent" meeting.