North Korea Can Now Launch Lethal, More Accurate Missiles: US Intelligence

North Korean nightmare

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".

Mr Huang added that numbers showing an increase are not evidence that China is failing to enforce United Nations resolutions, with imports from North Korea falling every month since March.

The North Korean foreign ministry threatened Friday to take "corresponding measures" if the U.N. Security Council adopts a new punitive resolution.

But the Trump administration's patience grew even thinner last week after Pyongyang conducted its first successful test of an intercontinental ballistic missile believed to be capable of striking the U.S. He has been urging the UN Security Council to impose a "complete economic embargo" requiring all member nations to cut off all finance and trade with the North, with a few limited humanitarian exceptions.

China's exports to North Korea rose 29.1% in the first half of the year, with total trade with Pyongyang growing 10.5% to $2.55 billion.

"Trade between China and North Korea grew nearly 40 percent in the first quarter", Trump tweeted on July 5. Marco Rubio, R-Fla., is calling for more accountability for companies working with North Korea.

The timing and scope of the USA action will depend heavily on how China responds to pressure for tougher steps against North Korea when United States and Chinese officials meet for a high-level economic dialog in Washington on Wednesday, the administration sources told Reuters.

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China announced in February the suspension of coal imports from the North, striking a blow at a major source of income for the hermit state.

They say that whether this is the end of it, or how far it goes, would depend on China's reaction to the new sanctions, and whether they start to do more against North Korea.

The text calls for kicking out from the USA banking system the businesses and financial institutions involved in a significant amount of trade in goods and services with the communist state, barring all North Korean-made products from entering the U.S. market, and sanctioning all firms engaged in labor exports. "Simple accumulated data can not be used as evidence to question China's severe attitude in carrying out UN Security Council resolutions", Huang told a news briefing. The Security Council approved a resolution in November that exempted transactions in iron and iron ore intended "exclusively for livelihood purposes".

At the same time, iron ore imports have surged between January and May to $74.4 million compared to $24 million over the same period a year ago.

Many people in Asia-Pacific countries have negative views of North Korea.

The bipartisan bill was introduced Thursday by Republican Senator Cory Gardner, who chairs the Senate Foreign Relations Subcommittee on East Asia.

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