CHINA/NORTH KOREA/TRADE DEALS: “China is banning imports of North Korean coal, iron and seafood, starting Tuesday [8-15-17], in a move that could assuage U.S. demands while enforcing new United Nations sanctions targeting Pyongyang’s nuclear-weapons program.
The trade halt, announced Monday by China’s Commerce Ministry and customs agency, follows a weekend phone call between Chinese President Xi Jinping and his U.S. counterpart Donald Trump on how to deal with North Korea’s advances in developing nuclear weapons and missiles.
Beijing disclosed the ban days after the Trump administration said it would order a formal probe into China’s alleged theft of U.S. intellectual property—a move some Chinese observers saw as an attempt to push Beijing into ramping up economic pressure on its impoverished ally.
China is by far North Korea’s biggest trading partner, accounting for more than 80% of North Korea’s external trade for the past five years. Mr. Trump has said he would cut Beijing slack over trade issues if he felt the Chinese were being helpful in reining in Pyongyang.
Beijing was expected to disclose steps to comply with new economic sanctions passed unanimously by the U.N. Security Council this month. Monday’s announcement was timed in response to Mr. Trump’s plans for a trade probe, according to people with knowledge of the leadership’s thinking. ‘This action on North Korea should help ease the renewed trade tensions,’ a government adviser involved in making policy said.”
-Chun Han Wong and Lingling Wei, “China Bans Key North Korean Imports,” The Wall Street Journal online, Aug. 14, 2017 10:34am