According to Reuters, two senior usa officials confirmed that the us was readying new sanctions on Chinese businesses that engage in commerce with North Korea. The officials declined to name the target but said larger Chinese banks will remain untouched for now.
During a press conference on Thursday, President Donald Trump complimented his Chinese counterpart, Xi Jinping, but said he could do more to help with the situation in North Korea. Trump added that he and the Chinese president were working together on trade, something that has come under scrutiny as of recent given China's economic ties to North Korea. Two days after, US Ambassador to the United Nations Nikki Haley said that the United States was prepared to use the full range of capabilities, including military options, to defend the country and its allies against North Korea.
The targets now being weighed for sanctions would come from a list of firms numbering "substantially more than 10" that Trump shared with Chinese President Xi Jinping at a Florida summit in April and which USA experts have continued to compile for review, according to one of the officials.
"The Philippines has the diplomatic stature to do that", the South Korean official said. "UN Security Council sanctions are not a total ban on shipments".
Getting China's help on passing United Nations resolutions and then putting unilateral sanctions on China was like "abandoning one's benefactor upon achieving one's goal", Mr. Geng added.
"Should the UNSC adopt another "resolution on sanctions, ' this will trigger corresponding measures by the DPRK and (the North will) respond to the 'resolution" with its act of justice", a spokesman of the foreign ministry was quoted by the North's state-run Korean Central News Agency as saying. "The maintenance of normal economic and trade exchanges between China and [North Korea] does not violate Security Council's resolutions", the foreign ministry spokesman said. It did not elaborate on the measures.
North Korea's successful test of an intercontinental ballistic missile has prompted strong criticism from the United States and from governments across the Asia-Pacific region.
NAN reports that during a Security Council meeting on July 7, US ambassador to the UN, Nikki Haley, threatened secondary sanctions if the council could not agree on new sanctions.
Last month, the Security Council imposed a fresh array of sanctions on Pyongyang in response to a number of missile tests carried out this year. Half or more in each country say they are somewhat or very concerned about the nuclear program. "We must utilize direct negotiations with Pyongyang alongside increased economic sanctions pressure from China to bring the Kim regime to the table and ultimately rid the Korean Peninsula of nuclear weapons".
While preparations for fresh sanctions are moving forward, tangible new steps by China could prompt Washington to put the measures on hold, the U.S. sources said. "They need grain, they need fuel and they need consumer goods, and that's what China provides", he said. "We're not going to be paralyzed into inaction". Mr Trump also said China's trade with North Korea had grown almost 40 per cent in the first quarter.
"I'm introducing a legislation that will create a global embargo against North Korea to shut off access to the U.S. financial systems and the systems and sources of trade that wish to continue to do business with North Korea", Gardner said in a statement.
China imported only 2.67 million metric tons of coal from North Korea in the first half of this year, a year-on-year drop of 74.5 percent, Huang noted. Chris Van Hollen (D) of Maryland and Sen. The bill if passed by the Congress and signed into law by the U.S. president, would severely impact Chinese businesses.