Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, September 23, 2017 10:20:58 PM
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 »

Uttering `strong and swift action` not enough, President Trump should mean business


US PRESIDENT Donald Trump wants the UN Security Council to take "strong and swift action" to end violence against Myanmar's Rohingya Muslims. Speaking at a Security Council meeting on peacekeeping reform, Vice President Mike Pence accused the Myanmar military of responding to attacks on government outposts "with terrible savagery, burning ...

City »

Islami Oikya Jote staged a demonstration in the city`s Palton area on Friday in protest against killing of Rohingya Muslims in Myanmar.


.

Entertainment »

Raai Laxmi in yet another hot, steamy song Mala Seenha


After teasing the audience with the teaser, trailer and title track now the makers of Julie 2 has released yet another hot and steamy song from the movie. With every passing day, Raai Laxmi is soaring the temperature with lots of oomph.  Produced and directed by Deepak Shivdasani and presented ...

International »

Defying Trump, Iran will boost missile capabilities


Reuters, London :Iran will strengthen its missile capabilities and will not seek any country's permission, President Hassan Rouhani said on Friday in a snub to demands from U.S. President Donald Trump.Rouhani was speaking at a military parade where an Iranian news agency said one of the weapons on display was ...

Editorial »

Shortage of food, water and medicine in Rohingya camps makes life difficult


FOLLOWING the influx of some 26,000 pregnant mothers, 40,000 lactating kids, and 2,00,000 children out of an estimated more than 4,00,000 migrated Rohingyas from Myanmar - many are now at high risk due to lack of proper health care, food, water and medicines. When some of the high-ups of the ...

Sports »

Kristie Ahn of the United States returns a shot to Veronica Cepede Royg of Paraguay during their second round match at the Korea Open tennis championships in Seoul, South Korea on Thursday.


City »

From left- former Vice-President of Dhaka University Central Students Union (DUCSU)Sultan Mohammad Monsur Ahmed, , Krishok Sramik Janata League President Bangabir Kader Siddique, Bir Uttam, General Secretary respectively of the Jatiya Samajtantrik Dal Abdul Malek Ratan, Bangladesher Samajtantrik Dal (BaSaD) General Secretary Khalekuzzaman, President of Bikalpa Dhara Bangladesh (BDB) Dr AQM Badruddoza Chowdhury, Gana Forum President Dr Kamal Hossain, Professor Dilara Chowdhury of Jahangirnagar University, former State Minister for Foreign Affairs Ministry Abul Hasan Chowdhury and weekly Robbar Editor Syed Tosharaf Ali spoke at a rally title


Entertainment »

Hera`s one decade in showbiz


Sheikh Arif Bulbon :Popular model cum actress Ruksana Ali Hera has already passed 10 years in media. She was first seen as a still model of Banglalink taken by photographer Iqbal Ahmed. She also started her career as a model in a visual advertisement of mobile company Airtel under the ...

Entertainment »

Nagpada Godmother's grandkids to feature in 'Haseena Parkar'


Shraddha Kapoor will essay the role of dreaded don Dawood Ibrahim's sister Haseena Aapa in Apoorva Lakhia's upcoming film 'Haseena Parkar' and we have learned that the film also features actual grandkids of the real Haseena Parkar, who was referred to as the 'Godmother of Nagpada'.  Confirming the same, director ...

International »

Russian special forces helping Syrian troops in key city


AP, Moscow :Russian special forces are helping Syrian government troops fight Islamic State militants in the battle underway for the strategic city of Deir el-Zour in eastern Syria, the defense ministry in Moscow said on Thursday.The deployment comes amid rising concerns of a direct confrontation on the ground between Russian-backed ...

Editorial »

Suu Kyi`s speech cannot silence the critics


STATE Counsellor of Myanmar Aung San Suu Kyi finally broke her silence on the Rohingya refugee crisis Tuesday insisting that her country was not "afraid of international scrutiny." But her speech in Naypyidaw drew widespread criticism, such as; she did not denounce atrocities against Rohingyas and claimed the government needed ...

Football »

Bayern`s Arturo Vidal is celebrated after he scored the third goal for Bayern during the German Bundesliga soccer match between FC Schalke 04 and Bayern Munich at the Arena in Gelsenkirchen, Germany on Tuesday.


Entertainment »

Feels good that like-minded people are in CBFC: Vidya Balan


Last month, much to the relief of filmmakers and the audience, the Censor Board of Film Certification underwent a revamp in August. Padma Shri recipient and lyricist Prasoon Joshi replaced Pahlaj Nihalani as the chairperson and revered film personalities like Vidya Balan and TS Nagabharana became board’s new members. Hopes ...

International »

Iran in UN spotlight as Trump threatens nuclear deal


AFP, United Nations :Tehran will defend itself on the world stage on Wednesday with President Donald Trump threatening to trigger a new international crisis by pulling out of the Iran nuclear accord.Iran's President Hassan Rouhani is to address the United Nations General Assembly, where worried world leaders are fearful of ...

City »

Residents of Dolaipar area in the city facing acute water crisis as water with bad smell has been coming from the WASA line. People have to collect drinking water from the only WASA pump in the areas standing in long queue.


 
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