Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, April 27, 2018 03:04:39 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

US prepares new sanctions on Chinese firms over North Korea ties

photo by

Donald Trump and his top aides have signaled growing impatience with China over North Korea.

By
15th-Jul-2017       
Comments
Share your thought
Post a comment »
Read all () »

Reuters, Washington :
Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior U.S. officials said.
The U.S. measures would initially hit Chinese entities considered "low-hanging fruit," including smaller financial institutions and "shell" companies linked to North Korea's nuclear and missile programs, said one of the officials, while declining to name the targets.
It would leave larger Chinese banks untouched for now, the official said.
The timing and scope of the U.S. action will depend heavily on how China responds to pressure for tougher steps against North Korea when U.S. and Chinese officials meet for a high-level economic dialogue in Washington on Wednesday, the administration sources told Reuters.
President Donald Trump and his top aides have signaled growing impatience with China over North Korea, especially since Pyongyang last week test-launched its first intercontinental ballistic missile, which experts say could put all of Alaska in range for the first time.
U.S. officials have also warned that China could face U.S. trade and economic pressure - something Trump has held in abeyance since taking office in January - unless it does more to restrain its neighbor. The so-called "secondary sanctions" now being considered are a way for the United States to apply targeted economic pressure on companies in countries with ties to North Korea by denying them access to the U.S. market and financial system. Word of the sanctions plan comes as U.S. ambassador to the United Nations Nikki Haley seeks to overcome resistance from China and Russia to a U.N. Security Council resolution imposing stiffer international sanctions on Pyongyang.
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 U.S. experts have continued to compile for review, according to one of the officials.
The administration has yet to see what it considers a sufficient response from China.
"The president is losing patience with China," the official said, adding that there would be a "more aggressive approach to sanctioning Chinese entities ... in the not-too-distant future."
China's embassy in Washington did not respond immediately to a request for comment. The White House declined comment.
Though the sources stressed that no final decisions had been made, they said China, North Korea's main trading partner, was crucial to pressuring Pyongyang to prevent it from achieving the capability of striking the United States with a nuclear-tipped missile.
During a U.N. Security Council meeting last week, Haley threatened secondary sanctions if the council could not agree on new sanctions - though she did not cite China by name.
In late June, Washington imposed secondary sanctions on two Chinese citizens and a shipping company for helping North Korea's nuclear and missile programs and accused a regional Chinese bank, the Bank of Dandong, of laundering money for Pyongyang.
Fresh U.S. sanctions would be aimed at sending a message to Beijing of Washington's resolve to act further on its own.
But they would stop short, at least for now, of the kind of broad "sectoral" sanctions Trump's predecessor, Barack Obama, secured through unilateral and international action against Iran to pressure it into negotiations to curb its nuclear program.
Cui Tiankai, China's ambassador to Washington, said on Monday that secondary sanctions were "not acceptable."
"Such actions are obstructing cooperation between China and the U.S. and lead to questions about the real intentions of the U.S. side," according to a transcript of his remarks from the Chinese embassy.
The threat of further secondary sanctions on Chinese companies could complicate next week's U.S.-China Comprehensive Economic Dialogue, an important forum for narrowing differences between the world's two biggest economies.
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'd have to show they're really serious," the second official said. "We're not going to be paralyzed into inaction."
U.S. and U.N. sanctions have so far failed to deter Pyongyang from pursuing its nuclear and missile programs.
Trump pledged repeatedly during his election campaign to get tough on Chinese trade practices deemed unfair to the United States, but his rhetoric softened after the friendlier-than-expected April summit with Xi.
Shortly after their meeting, Trump said he had told Xi that China would get a better trade deal if it reined in North Korea.
But in recent weeks, Trump has fired off tweets denouncing China's trade with North Korea and cast doubt on whether Beijing was doing enough to counter Pyongyang.
Reflecting growing concern about North Korea on Capitol Hill, two members of the U.S. Senate Banking Committee, Democrat Chris Van Hollen and Republican Pat Toomey, announced on Wednesday they would soon introduce legislation for North Korea modeled on the Iran secondary sanctions laws passed by Congress.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Corruption becomes organisational


THE investigation teams of Anti-Corruption Commission (ACC) have got evidence about large-scale financial corruptions in 10 government organizations where the Roads and Highways Department topped the list. Second and third positions have been acquired by education and health sectors consecutively. Others are Land, Public Works Department, Chattogram Port Authority, Land ...

Sports »

Bangladesh Army Area Commander Headquarter logistic area Mejor General Ataul Hakim Sarwar Hasan giving away champoins trophy to the Tenth Infantry Division of Bangladesh Army team,who became Champions of the Bangladesh Army Watersports at Army Swimming Complex at Banani in the city on Thursday.


Entertainment »

Ankhi Alamgir busy with stage shows


Entertainment Report :Ankhi Alamgir is such a popular singer who has to be engaged with stage shows round the year at home and abroad. On April 14, 15 and 19 she took part in three countries - Paris, Vienna and Oman respectively with the invitation from expatriate Bangladeshis there. After ...

City »

BNP Secretary General Mirza Fakhrul Islam Alamgir, among others, at a discussion organised by `Sammilita Bouddha Nagorik` at the Jatiya Press Club on Thursday demanding release of the party Chairperson Begum Khaleda Zia.


Weekend Plus »

Myths, tips for healthy hair in summer


Weekend Plus Desk :Summer can bring in several hair woes. From using right serum to brushing in a proper way, experts say there are easy ways to tame your mane.Arpit Jain, founder and Managing Director of Auraine Botanicals, suggests tips to keep your hair healthy:* Hair serum: Always apply hair ...

International »

India-China summit expected to ease tensions over border


AP, New Delhi :Indian Prime Minister Narendra Modi is meeting this week with Chinese President Xi Jinping, a visit that some experts believe could reset a complicated relationship that faced several tests last year, including a tense border standoff.The meeting between the leaders of the world's two most populous nations ...

Editorial »

Stop women harassment on running buses


A DHAKA court on Tuesday placed three staffers including driver of a Turag Paribahan bus in a case filed over sexually harassing a private university female student in the running bus on her way to campus. According to the case statement, on April 21, the girl boarded the bus on ...

International »

Trump, Russia and China media attacks `threaten democracy`


AFP, Paris :Press freedom around the world is under threat from a triple whammy of US President Donald Trump, Russia and China's bid to crush all dissent, a watchdog said Wednesday.Reporters Without Borders (RSF) warned that a "climate of hatred and animosity" towards journalists combined with growing attempts to control ...

Football »

Liverpool`s Mohamed Salah celebrates with teammates after scoring his side's opening goal during the Champions League semifinal, first leg, soccer match between Liverpool and Roma at Anfield Stadium in Liverpool, England on Tuesday.


Entertainment »

Yami hopes to help kids, one book at a time


Yami Gautam, actress of the upcoming Batti Gul and Uri posted on her social media that she has just supported and donated towards setting up a library for under privileged kids in Kohlapur, Maharashtra. Her donation will help over 400 children in the area to read, learn and imagine. The ...

City »

Human rights activist Dr Hamida Hossain, among others, at a seminar on 'Socio-economic Development of Dalit Women in Bangladesh and National Budget' organised by different organisations in CIRDAP Auditorium in the city on Wednesday.


Football »

Members of Dhaka Abahani Limited during their practice session at the Abahani Ground on Tuesday.


Sports »

Senior Operative Director (Head of Games & Sports Department) of Walton Group FM Iqbal Bin Anwar Dawn (second from left) speaking at a press conference at the Club House in Army Golf Club on Tuesday.


Entertainment »

Sonam to quit Bollywood!


Sonam Kapoor's wedding has been one of the most talked about topics of discussion in the industry. A lot of speculations are being made about Sonam-Anand's wedding. Recent reports suggested that Sonam will be shifting to London post her wedding with Anand.These speculations even gave rise to rumours that Sonam ...

Editorial »

Police must not feel free to abuse police power against police discipline


A MOTORCYCLE was stolen from in front of a high police official's residence last week. Motorbikes are the easiest target for thieves. They either stealthily take away the bikes or stop the riders at night and snatch away their bikes. Sometimes, the bikers are knifed or beaten up. Last year, ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news