Sunday, September 10, 2017

US officials propose sanctions

Secretary Mnuchin, of the US treasury, stated that he wants the UN to further their sanctions on North Korea. And that there will be consequences if the countries currently engaging in trade with North Korea don't comply.
He states  that "he will seek an executive order from Trump to sanction any nation trading with Pyongyang".
His reasoning is inspired by the current nuclear testing being performed by Nortth Korea.

Putting sanctions on not only North Korea, but all countries that trade with them, could negatively affect the US economy.
Trade has a positive affect on consumer welfare, due to a larger variety of choices of products, as well as having the lowest price available. 
And the opposite is true when trade is not available.


Source:

https://www.cnbc.com/2017/09/06/mnuchin-warns-us-may-seek-sanctions-on-north-korea-trade-partners.html

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