White House: No 'red lines' on North Korea

North Korea made a failed missile test launch on Sunday, adding to regional tensions that have escalated over the past weeks as U.S. President Donald Trump has taken a tough rhetorical line with Pyongyang.

The United States, its allies and China are working together on a range of responses to North Korea's latest failed ballistic missile test, Trump's national security adviser said on Sunday, citing what he called an global consensus to act.

Also, the US has been expressing concerns over North Koreas escalated efforts to develop its nuclear weapons program and Washington has not ruled out military action to halt it.

While McMaster conceded that estimates on North Korea's weapons capabilities "vary widely", even failed missile tests could allow them to improve their programmes, he said.

McMaster told Raddatz that he is working with US allies and China to develop a "range of options" for President Trump to respond if North Korea refuses to end its nuclear program.

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Evan Medeiros, the National Security Council's senior director for Asian affairs under Obama, joined other former officials in questioning Trump's attempt to barter the US-China trading relationship over the North Korean issue.

"Frankly, if we got along with Russian Federation and knocked out ISIS, that would be a good thing, not a bad thing", Trump told a radio host in October, citing his still unrealized goal to have both countries cooperate to defeat the Islamic State group.

The US stopped short of branding China a currency manipulator, but urged the world's second-largest economy to let the yuan rise with market forces and embrace more trade. Trump initially claimed he was under audit so he couldn't release the returns but after the U.S. Treasury said that was not the case, the president then suggested voters don't care.

Taiwan's Central Bank said Saturday that the results have been anticipated by the bank so the latest USA currency report is unlikely to impose any material adverse impact on the local foreign exchange market. "Expanding trade in a way that is freer and fairer for all Americans requires that other economies avoid unfair currency practices, and we will continue to monitor this carefully", said Treasury Secretary Steven Mnuchin.

Asked if he was confident that China will pressure North Korea in a meaningful way, McMaster replied, "We'll see what happens".

One reason why the KRW and TWD have been so strong YTD is probably related to a more hands-off approach to FX intervention due to fears of USA trade policies. Trump dismissed America's Russian Federation hawks as "stupid people or fools" and predicted that under his leadership the Cold War foes would "work together to solve some of the many great and pressing problems and issues of the world". While, the North did not conduct a nuclear test, the chance that they were going to escalated the USA response ahead of Pence's 10-day tour of Asia. China accounts for 80% of North Korea's foreign trade and has significant political leverage over North Korea.

Rather than insisting the United States must stop joint military exercises with South Korea, Wang made clear North Korea was just as much a belligerent party in the dispute. An official at the monetary authority, who asked not to be identified, said last Saturday that the central bank is in continued contact with the U.S. and has good communication channels with Washington.

  • Leroy Wright