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vegassports-odds.com January 20, 2018


China's trade with North Korea tumbles over United Nations sanctions

13 January 2018, 11:54 | Taylor George

Trump cryptic about contacts with NKorea's Kim

Trump cryptic about contacts with NKorea's Kim

The United Nations began imposing sanctions on North Korea in 2006, but tougher measures were invoked in 2017 as tensions flared anew over the country's nuclear and missile programmes.

The Chinese customs agency said Friday that imports from the North shrank 81.6 per cent to $54 million while exports to the isolated, impoverished country contracted 23.4 per cent to $260 million.

White House Press Secretary Sarah Sanders issued a statement on Friday.

The decrease was even more noticeable in December, with overall trade between the two countries coming in 50.6 percent lower than the figure from the previous year.

While the US may see that as a positive development, China posted a trade surplus with the country a year ago that climbed 10% to a record $275.8B.

U.S. Defense Secretary Jim Mattis will participate in the meeting's welcome dinner on Monday, the State Department said.

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"We need to be doing more to deal with vessels that are engaging in prohibited activities under UN Security Council resolutions", said Hook. The latest round passed last month.

The number of financial transactions between Canada and North Korea is extremely small because of those sanctions, which the federal government imposed in August 2011.

"This action supports the United States-led global effort to apply maximum pressure until the North Korean regime ends its illicit programs, changes its behavior, and moves toward denuclearization of the Korean peninsula".

The meeting is ostensibly created to show worldwide solidarity in the face of the North Korean threat, discuss ways to strengthen sanctions against the country and seek diplomatic solutions to the crisis.

"If both China and Russian Federation are absent from the meeting, then the significance and the utility of the gathering will be greatly discounted", Wenran Jiang, an expert on Asian politics from the University of Alberta, said in an email.

The phone call comes after the Koreas held their first high-level talks in two years.



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