China defends imports of North Korean iron ore

China defends imports of North Korean iron ore

China defends imports of North Korean iron ore

It would leave larger Chinese banks untouched for now, the official said.

China does not want a flood of millions of hungry refugees coming over its northeast border if the Pyongyang regime collapses, and it certainly does not want the 28,000 USA troops now stationed in South Korea to be able to move all the way up the peninsula.

Sino-US relations have soured in recent weeks as President Donald Trump has urged Beijing to step up diplomatic and economic pressure on North Korea over its nuclear and missile programmes. The bigger Chinese banks will be left alone, for now. He said China was abiding by.

Beijing's statistics reveal that although imports from North Korea have fallen, exports in the first half of the year increased by nearly a third compared to 2016.

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 United States experts have continued to compile for review, according to one of the officials.

"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".

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The White House took swift action after seeing that a strategy of persuasion wasn't working - approving a long-delayed arms sales package to Taiwan, sending in a pair of freedom of navigation operations to challenge Beijing's territorial claims in the heavily contested South China Sea, and imposing an initial round of secondary sanctions, which targeted a few individuals and companies with financial ties to Pyongyang.

"Such actions are obstructing cooperation between China and the United States and lead to questions about the real intentions of the USA side", according to a transcript of his remarks from the Chinese embassy. This is going to mean Chinese banks.

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 USA officials said. He referred to "tough pressures" that China faces in its relationship with North Korea.

After Trump publicly pressed Beijing to rein in economic support for the rogue regime, trade between China and North Korea grew more than 37 percent in the first quarter, a statistic available in April but which Trump didn't publicly acknowledge until last week.

The 68-year-old had come under fire for driving under the influence of alcohol in 1991 and for playing golf in his post-retirement years on anniversaries of such national tragedies as the sinking of the Cheonan warship and North Korea's shelling of Yeonpyeong Island.

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