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. Last Updated: 07/27/2016

U.S. to Ease Up On North Korea

WASHINGTON -- U.S. President Bill Clinton eased strict trade, banking and travel restrictions Friday against North Korea, in the most significant gesture toward the communist government since the end of the Korean War in 1953. In return, North Korea has pledged to forgo testing of long-range missiles.

The move will allow "most consumer goods to be available for export to North Korea and will allow the importation of most North Korean-origin goods into the United States," White House press secretary Joe Lockhart said.

Moreover, it will permit the transfer of commercial and personal funds between the two countries and allow commercial air and sea transportation for passengers and cargo.

North Korea will remain on the State Department's list of countries that support terrorism. As a result, there will be no easing of a ban on the sale of U.S. weapons and missile-related technology as well as on U.S. foreign and economic aid, except humanitarian assistance.