U.S. threat to China’s trade with North Korea
July 11, 2017 -- The Trump administration is considering sanctions or taking other trade action against China – the world’s second-largest economy and America’s largest trading partner – over its support of North Korea.
President Trump wants Beijing to use its influence as North Korea’s only major ally and source of oil and export markets to pressure Pyongyang to renounce nuclear development.
The Associated Press reports that customs data show total Chinese-North Korean trade in the first five months of this year rose 15 percent from a year earlier. Exports of Chinese oil to the North rose, while China's purchases of iron ore increased.
In April, the Indian government announced a ban on all trade, except for food and medicine, to bring Delhi into line with United Nations sanctions on North Korea. India is North Korea’s second biggest trading partner.
The Saudi Arabia Monetary Authority (SAMA) has also banned any financial transactions to the country in May.