North Korea Sanctions Impact Mitigated By Illicit Trade
It is difficult to gauge the impact of the increased sanctions imposed on North Korea, with reports of both plummeting exports in the last year and increasing illicit trade of banned minerals and arms. U.S. President Donald Trump’s “maximum pressure” strategy aims to increase sanctions on North Korea and force the Kim Jong Un government to seek relief by agreeing to give up its threatening nuclear weapons and ballistic missile program, or face increasing hardship and possible collapse from within. If sanctions fail to end the North Korean nuclear threat, the Trump administration has emphasized it is prepared to use military force, as well. Trade decline The latest U.S.-led round of sanctions at the United Nations Security Council, which were imposed in August and September of 2017, produced a total export ban on North Korea’s $3 billion coal and other mineral industries, its $800 million clothing manufacturing output, and its lucrative...
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