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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.

","official_title":"A bill to impose sanctions with respect to the Government of the Democratic People's Republic of Korea and any enablers of the activities of that Government, and for other purposes.","short_title":"North Korean Enablers Accountability Act of 2017","popular_title":null,"short_summary":"North Korean Enablers Accountability Act of 2017\n\nThis bill directs the President to: (1) impose property-blocking sanctions against the North Korean government, business entities that trade with North Korea, including specified Chinese entities, and affiliated persons or entities; (2) prohibit the opening, and strictly control the maintaining in the United States, of correspondent or payable-through accounts by a foreign financial institution that assisted in the importation, sale, or transfer of North Korean goods or services; and (3) impose specified sanctions against a person that imports, purchases, or transfers goods or services from the North Korean government or from such entities or affiliates.\n\nThe President may waive the application of these sanctions for humanitarian or national security purposes.\n\nThe bill prohibits the U.S. entry of goods mined, produced, or manufactured by North Korean labor, and directs the President to apply property-blocking sanctions against a person ...","summarized":true,"cost":null,"cost_commentary":"A CBO cost estimate is unavailable.","impact":"Businesses and entities that do business with North Korea; Chinese importers of North Korean goods; the SEC; and the president.","argument_for":"The U.S. needs to use every diplomatic and economic tool at its disposal to prevent North Korea from starting a nuclear war. 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It is vital that we tread carefully and approach this crisis by the best diplomatic means possible.","show_argument_for":false,"show_argument_against":true,"upvote_count":0,"upvotes_for_count":null,"upvotes_against_count":0,"has_upvoted":false,"endorsement_count":0,"links":{"self":"https://www.causes.com/positions/8e025e86-6cbd-43b0-88a3-0ff452b4e741"},"body":"I would be in favor if there was a means to impose sanctions without harming our relations with key allies in the region such as China. It is vital that we tread carefully and approach this crisis by the best diplomatic means possible.","stance":"nay","created_at":"2017-08-10T18:14:54.940Z","shareable_image_url":"https://n.causes.com/share-images/positions/8e025e86-6cbd-43b0-88a3-0ff452b4e741.png","note_color":null,"note_text":null,"bill_id":"s1562-115","user_id":"LWgYyYEm","endorser_ids":[]}}

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Does the U.S. Need to Sanction Businesses That Trade With and Enable North Korea?