This bill would prohibit the North Korean government, its affiliates, and entities that do business with it from using the U.S. financial system, in addition to blocking all transactions involving such entities. Sanctions would also be extended to the top 10 Chinese companies that import North Korean goods. No goods made with North Korean labor would be permitted to enter the U.S., as would products from entities implicated in North Korean labor trafficking.
The Securities and Exchange Commission (SEC) would be directed to create regulations within 270 days that require all issuers of stock and other securities to disclose annually any investments the issuer makes in North Korea.
The president would be allowed to waive these sections if they determine that doing so would be in the national security interest of the U.S. and provide relevant congressional committees with a report on the determination and the reasons for it. The president would also be able to waive sanctions to allow for humanitarian assistance for renewable periods of between 30 days and one year.