An executive order has been prepared by Treasury Secretary Steven Mnuchin for President Donald J. Trump Trump to sign that would sanction nations trading with North Korea.
“If we don’t get these additional sanctions at the U.N., as I mentioned over the weekend, I have an executive order prepared, that’s ready to go to the president, that will authorize to stop doing trade and put sanctions on anybody that does trade with North Korea,” Mnuchin told reporters on Wednesday.
Mnuchin’s comments come after news that North Korea has successfully tested a miniaturized hydrogen bomb that can be placed on an intercontinental ballistic missile (ICBM). He described “the North Korean situation” as “not acceptable,” saying, “It’s very clear that the focus right now is at the U.N., putting additional sanctions.”
United States Ambassador to the United Nations Nikki Haley called for the “strongest possible measures” in an emergency Security Council meeting and said the U.S. will circulate a resolution for a vote next week.
On Thursday, China said it agreed that the United Nations should take more action against North Korea after its latest nuclear test, but it is also pushing for more dialogue to resolve the crisis on the Korean peninsula. China is North Korea’s biggest trading partner, accounting for 92 percent of the two-way trade last year. China also provides hundreds of thousands of tons of oil and fuel to the impoverished regime.
North Korea has warned that it would respond to any U.N. sanctions and U.S. pressure with “powerful counter measures,” accusing the United States of aiming to start a war.
The United States wants the U.N. Security Council to impose an oil embargo on North Korea, ban its exports of textiles and the hiring of North Korean laborers abroad, and to subject leader Kim Jong Un to an asset freeze and travel ban, according to a draft resolution seen by Reuters on Wednesday.
“We will respond to the barbaric plotting around sanctions and pressure by the United States with powerful counter measures of our own,” North Korea said in a statement by its delegation at an economic forum in Vladivostok, in Russia’s Far East.
President Trump has urged China to do more to rein in its neighbor, which has pursued its weapons programs in defiance of U.N. sanctions and international condemnation.
“Given the new developments on the Korean peninsula, China agrees that the U.N. Security Council should make a further response and take necessary measures,” Chinese Foreign Minister Wang Yi told reporters on Thursday, without elaborating.
“Any new actions taken by the international community against the DPRK should serve the purpose of curbing the DPRK’s nuclear and missile programs, while at the same time be conducive to restarting dialogue and consultation,” he said, referring to North Korea by the initials of its official name, the Democratic People’s Republic of Korea.
Dennis Michael Lynch, the CEO of DML NEWS, supports the idea. “The president needs to sign the order. The nations of the world who do business with America cannot prosper without doing business with America. They’ll fall in line.”
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