US reportedly backs off new North Korea sanctions as talks about a future summit progress

  • The US has pushed back additional sanctions against North Korea as the countries continue talking about a summit between President Donald Trump and Kim Jong Un.
  • Talks of reviving the planned summit seem back on track, with US officials meeting North Korean counterparts in the DMZ this week.
  • The Treasury Department reportedly prepared a sanctions package which would target nearly 30 entities, including those in Russia and China.
  • Trump favors a "maximum pressure" policy on North Korea, and US and UN sanctions have successfully curbed its foreign funding.


The US has decided to push back additional planned sanctions against North Korea as the countries progress on talks of a future summit between Kim Jong Un and President Donald Trump.

US officials told the Wall Street Journal that the US was prepared to announce increased sanctions against North Korea but decided to delay the action indefinitely while talks with North Korea continue.

Last week President Donald Trump abruptly pulled out of a meeting with Kim Jong Un scheduled for June 12, citing "tremendous anger and hostility" on the North Korean side. Talks of reviving the planned summit seem back on track, as US officials continue to meet with North Korean counterparts at the DMZ this week.

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A look at the day Trump cancelled the North Korea summit
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A look at the day Trump cancelled the North Korea summit
A man watches a television news screen showing US President Donald Trump (L) and North Korean leader Kim Jong Un (R), at a railway station in Seoul on May 25, 2018. - US President Donald Trump on May 24 called off his planned June summit with Kim Jong Un, blaming 'open hostility' from the North Korean regime and warning Pyongyang against committing any 'foolish or reckless acts.' (Photo by Jung Yeon-je / AFP) (Photo credit should read JUNG YEON-JE/AFP/Getty Images)
A letter from U.S. President Donald Trump to North Korean leader Kim Jong Un canceling their upcoming planned summit in Singapore is seen in this photo released by the White House in Washington, U.S. May 24, 2018. The White House via Reuters ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS
A commemorative coin released by the White House for a potential 'peace summit,' featuring the names and silhouettes of U.S. President Donald Trump and North Korean leader�Kim�Jung�Un, is displayed for a photograph in Washington, D.C., U.S., on Thursday, May 24, 2018. Trump�canceled his planned�summit�with Kim Jong Un�that had been scheduled for June 12 in Singapore, citing 'tremendous anger and open hostility' in recent statements from Pyongyang. Photographer: Yuri Gripas/Bloomberg via Getty Images
A news editor in Washington, DC looks at the 'deal of the day' on the official website of the White House gift shop May 24, 2018 as the commemorative coin featuring US President Donald Trump and North Korean leader Kim Jong Un goes for USD 19.95 instead of the regular price of USD 24.95. - The price of the coin, struck by the White House Communications Agency ahead of the much anticipated US-North Korea summit meeting, seemed to lose value shortly after Trump called off the June 12, 2018 summit blaming 'tremenduous anger' and 'hostility' from the North Korean regime and warning Pyongyang against committing any 'foolish or reckless acts.' (Photo by Eva HAMBACH / AFP) (Photo credit should read EVA HAMBACH/AFP/Getty Images)
SEOUL, SOUTH KOREA - MAY 25: A man reads a newspaper at Seoul railway station on May 25, 2018 in Seoul, South Korea. The U.S. President Donald Trump called off the summit with North Korean leader Kim Jong Un that had been scheduled for June 12 in Singapore due to 'tremendous anger and open hostility' in recent statements from Pyongyang. (Photo by Chung Sung-Jun/Getty Images)
SEOUL, SOUTH KOREA - MAY 25: People watch a TV report at Seoul railway station on May 25, 2018 in Seoul, South Korea. The U.S. President Donald Trump called off the summit with North Korean leader Kim Jong Un that had been scheduled for June 12 in Singapore due to 'tremendous anger and open hostility' in recent statements from Pyongyang. (Photo by Chung Sung-Jun/Getty Images)
A man reads the front page of a newspaper at a railway station in Seoul on May 25, 2018 showing a picture of US President Donald Trump. - US President Donald Trump on May 24 called off his planned June summit with Kim Jong Un, blaming 'open hostility' from the North Korean regime and warning Pyongyang against committing any 'foolish or reckless acts.' (Photo by Jung Yeon-je / AFP) (Photo credit should read JUNG YEON-JE/AFP/Getty Images)
A man watches a television news showing North Korean leader Kim Jong Un (R) and US President Donald Trump (L), at a railway station in Seoul on May 24, 2018. - North Korea has dismantled its nuclear test site, media invited to attend the ceremony said on May 24, in a carefully choreographed move portrayed by the isolated regime as a goodwill gesture ahead of a potential summit next month with the US. (Photo by Jung Yeon-je / AFP) (Photo credit should read JUNG YEON-JE/AFP/Getty Images)
A commemorative coin released by the White House for a potential 'peace summit,' featuring the names and silhouettes of U.S. President Donald Trump and North Korean leader�Kim�Jung�Un, is arranged photograph taken in Washington, D.C., U.S., on Thursday, May 24, 2018. Trump�canceled his planned�summit�with Kim Jong Un�that had been scheduled for June 12 in Singapore, citing 'tremendous anger and open hostility' in recent statements from Pyongyang. Photographer: Yuri Gripas/Bloomberg via Getty Images
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The Treasury Department has prepared a sanctions package which would target nearly 30 entities, including those in Russia and China, officials told the Journal. The sanctions, which were set to be announced this week, have been put on hold so long as talks concerning the summit move forward.

The US, along with the UN, has imposed numerous large-scale sanctions on North Korea, cutting off much of its foreign income. The UN bans exports of North Korean coal, iron, seafood, and textiles, and limit imports of crude oil.

Estimates say nearly half of North Korean transactions are made in foreign currency, commonly the Chinese yuan. But China, one of North Korea's largest trade partners, drastically reduced its imports from North Korea this year, according to the Associated Press

Trump has long emphasized the US commitment to a "maximum pressure" policy on North Korea in order to prevent the country from obtaining nuclear weapons. South Korea even credited Trump's hardline policy for helping bring Kim to the negotiating table last month, a claim which North Korea angrily refuted

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