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WSJ: Trump May Tighten Financial Pressure on Chinese Firms Helping North Korea

Image: WSJ: Trump May Tighten Financial Pressure on Chinese Firms Helping North Korea
(AP)

By Jason Devaney   |   Tuesday, 14 Mar 2017 06:00 PM

The White House is poised to put added financial pressure on Chinese companies that sell to North Korea's military, according to a new report.

The Wall Street Journal cites officials in the United States and Asia who said President Donald Trump's administration is trying to curb North Korea's ability to both obtain a nuclear weapon and flex its military muscle.

North Korea has fired several missiles into the Sea of Japan in recent months, and some officials believe the insular country may already have a nuclear warhead for short-range missiles.

The Obama administration cracked down on Chinese companies doing business with the North Korean military, but Trump is ready to take that up another notch.

Last week, for example, the Commerce Department fined a Chinese company $1.2 billion for selling military supplies to North Korea and Iran because the deals violated U.S. sanctions.

Secretary of State Rex Tillerson will discuss the planned update to financial sanctions during a trip to the region this week, the Journal reports.

North Korea test-fired a missile in February that was reportedly designed to be launched from a submarine.

China, meanwhile, proposed last week that North Korea could halt its nuclear weapons program if the U.S. and South Korea stopped their joint military exercise that is ongoing.

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The White House is poised to put added financial pressure on Chinese companies that sell to North Korea's military, according to a new report.
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2017-00-14
 

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