ASEAN, Japan, China, South Korea agree to bolster financial cooperation

Rex Tillerson expected to press Asian Countries on North Korean threat

UN Security Council approves new sanctions against North Korea

The ARF is an annual security gathering involving foreign ministers from almost 30 nations including China, Japan, South Korea, the United States and the ASEAN members. North Korea responded in traditional fashion on Monday, saying it was ready to teach the United States a "severe lesson" if it launched an attack. He said the program was a rational "strategic option" in case of attack by the US, the Washington Post reported.

President Donald Trump and other US 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. Repeating a threat made a number of times since the recent intercontinental ballistic missiles (ICBM) tests, Ri said that all of the USA was now within striking range of Pyongyang's missiles.

"We will be monitoring that carefully and certainly having conversations with any and all that we see who may not be fully embracing not just the spirit of those sanctions but the operational execution of those sanctions", Tillerson said.

"So this is not a 'give me 30 days and we're ready to talk.' It's not quite that simple. So it is all about how we see their attitude towards approaching a dialogue with us". North Korea must halt its missile tests, but the top USA diplomat left out any stipulation on nuclear testing.

The resolution is the sixth on North Korean to be adopted by the Security Council since 2006 (the previous ones are resolutions 1718, 1874, 2087, 2094 and 2270), and despite China having voted in favor of each one, there is scant evidence that it has implemented them robustly.

Such concerns were on display Sunday in a dizzying display of fast-paced diplomacy spanning multiple continents.

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It was not immediately clear whether the statement was read to the ASEAN Regional Forum on Monday. The American and Japanese diplomats held another three-way session with Australia. In a joint statement at the end of a meeting of their foreign ministers in Manila, the three countries said new sanctions on North Korea should be strictly implemented.

On Saturday, South Korean Foreign Minister Tang Kyung-Wha said he would like to meet his North Korean counterpart Ri Yong Ho and tell him that they "must have a dialogue and that the North must stop the continuous provocations". Moon's office said that he and Trump had agreed to apply "the maximum pressure and sanction".

North Korean leader Kim Jong-Un.

Yet already, there are signs that nations with the strongest ties to North Korea may fall short of the stringent enforcement that Trump and others seek.

"In particular, they welcomed the United Nations Security Council's unanimous adoption of the powerful new Resolution 2371 and promised to closely work together to make the global community faithfully implement it", the ministry added.

The Philippines, who was Pyongyang's third-largest trading partner in 2016, remains a hub for North Korean drugs, according to the Peterson Institute of International Economics. The source claimed that China was the party expected to address the issue, which also ran to the heart of the new United Nations sanctions. "If you really start to go down that path, I'm not sure how far the Chinese will go down with you".

Korean shares end lower on foreign selling amid tensions over N. Korea
OIL: Benchmark U.S. crude rose 23 cents to settle at $48.82 a barrel on the on the New York Mercantile Exchange. Pyongyang said it was examining plans for attacking Guam, a USA territory in the Pacific with a military base.

MANILA, Philippines (AP) — The Latest on developments on efforts to ratchet up pressure on North Korea over its nuclear program.

Two missile tests by North Korea in July showed that it can launch missiles capable of hitting population centers in the United States.

ICBM threat and North Korea's overall military strength Nuclear capable?

Tillerson conceded there would likely be a lag period before the sanctions "actually have a practical bite on their revenues".

Tillerson is offering his most specific outline to date of what preconditions the USA has for talks with Pyongyang.

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