Trump praises new United Nations sanctions on North Korea

Chinese Foreign Minister Wang Yi arrives at an Association of Southeast Asian Nations meeting Saturday in Manila Philippines. On Sunday he urged North Korea to cease missile and nuclear tests

President Donald Trump and other USA officials have welcomed the vote August 5 by the U.N. Security Council to impose new sanctions on North Korea over its ballistic missile program.

The foreign ministers exchanged views on a free trade agreement including the 13 nations, Australia, New Zealand and India, as well as infrastructure and maritime order in the region, a Japanese government official said.

They also promised to strengthen their communications to better respond to the North's nuclear threats.

North Korean's top diplomat says "under no circumstances" will it put its nuclear weapons or ballistic missiles on the negotiating table.

The United States is responsible for influencing the decision at the Security Council to adopt Resolution 2371, the North Korean council said Monday.

The secretary of State said one of the next steps is "obviously are to see that the Security Council resolution sanctions are enforced by everyone". The picture above from 2013 shows leader Kim Jong Un ordering strategic rocket forces to be on standby to strike US and South Korean targets at any time.

Investors React to Trump's North Korea Threats
The dollar notched a two-month trough on the safe-haven Japanese yen and was last down 0.3 percent at 109.99. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.

Speaking at a regional security forum in Manila on Monday, Wang said the new resolution showed China and the global community's opposition to North Korea's continued missile tests, the foreign ministry said in a statement on Tuesday.

Wang said the two had an intensive conversation during which China urged North Korea to maintain calm.

Kono replaced Fumio Kishida as Japan's foreign minister last Thursday in a Cabinet reshuffle. He says he told Ri "do not violate the United Nations decision or provoke the worldwide community's goodwill by conducting missile launches or nuclear tests".

Tillerson did not specify how long North Korea would need to suspend its missile launches.

The fresh set of penalties imposed on Kim's administration this past Saturday could subtract $1 billion from Pyongyang's coffers, the U.S. State Department estimated.

After weeks of USA frustration over China's reluctance to take action, Trump's strategy of relying on Beijing's help showed early signs of paying off.

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U.S. Secretary of State Rex Tillerson says the approval of new United Nations sanctions targeting North Korea over its nuclear and ballistic missile programs is a "very good outcome". All countries are now banned from importing North Korean coal, iron, lead and seafood products, and from letting in more North Korean laborers who sent remittances back into the country.

Tillerson is meeting with South Korean Foreign Minister Kang Kyung-wha in the Philippines on the sidelines of a regional summit. Beforehand, he had called at the Security Council for countries to cut diplomatic and financial ties with Pyongyang. Kang is thanking the USA for consulting with South Korea on the sanctions.

One of the secondary sanctions efforts deals with jurisdictions that are non-compliant with United Nations resolutions, Stephan Haggard, visiting fellow at the Peterson Institute of International Economics, said in a Monday note.

The meeting comes as the USA and Asian nations join together to try to step up Pyongyang's economic and diplomatic isolation.

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