Donald Trump's administration has prepared to level fresh sanctions on Chinese banks and firms that have continued to do business with North Korea in the wake of its latest intercontinental ballistic missile test, according to senior US officials cited by Reuters. The new sanctions, which are expected to be announced as early as Monday, will target China's largest bank, Bank of Dandong, a source familiar with the matter told Reuters on condition of anonymity. The Trump administration has grown uneasy with China's links to North Korea, especially after it launched a missile capable of reaching Alaska last week.
Donald Trump's administration has prepared to level fresh sanctions on Chinese banks and firms that have continued to do business with North Korea in the wake of its latest intercontinental ballistic missile test, according to senior US officials cited by Reuters. Small Chinese financial institutions and "shell" companies linked to missile development are likely to be targeted by the punitive measures, said one unnamed US government insider. The Trump administration has grown uneasy with China's links to North Korea, especially after it launched a missile capable of reaching Alaska last week.