China moved to tighten economic pressure on North Korea on Monday by implementing a new package of U.N. sanctions, but simultaneously had a warning for the Trump administration: don’t spoil our new-found unity by starting a trade war. The Commerce Ministry announced a ban on imports of iron ore, iron, lead and coal from North Korea effective Tuesday. The Chinese customs agency said it will stop processing imports of North Korean coal, iron and lead ores and fish at midnight on Sept. 5. "After that, entry of these goods will be prohibited," said an agency statement.
The announcement follows an escalating exchange of angry words between U.S. President Donald Trump and Kim's government. Trump declared the U.S. military "locked and loaded" while Pyongyang threatened to fire four missiles into waters near the U.S. territory of Guam. The latest U.N. sanctions are intended to block North Korean exports worth $1 billion — a significant share of total exports valued at $3 billion last year. At the same time, Beijing warned President Trump not to split the international coalition over North Korea by provoking a trade war between China and the United States.
A vocal pro-Brexit campaign groups launched a campaign yesterday to oust chancellor of the exchequer Philip Hammond from parliament, indicating that he is part of a plot to stop Britain leaving the European Union. The division over Brexit strategy have resurfaced after Prime Minister Theresa May lost her parliamentary majority election in June, generating political pressure for a softer exit. Hammond has led calls for a multi-year, staggered break from the EU in order to protect the British economy, much to the dismay of Brexit voters who want a more decisive divorce when Britain's membership ends in March 2019.