Lt. Col. Ralph Peters (Ret.) said on Fox Business Network that the Trump administration is taking an "important" step by imposing new financial sanctions on North Korea. 

The latest round of sanctions targets Chinese firms who are still doing business with Pyongyang. President Trump said Monday that he plans to designate North Korea as a "state sponsor of terrorism" again.

North Korea was removed from the State Department list in 2008 in an effort to reach a deal to curtail its nuclear program. The list also includes Iran, Sudan and Syria.

Peters, a Fox News strategic analyst, said only a few Chinese companies were named today, seeing the action as a "warning" and not an "embarrassing slap" to Chinese President Xi Jinping.

"Any additional sanctions can only help. ... A monetary solution is better than war," he said, calling it a symbolic but "very important" step by the administration.

Peters said U.S. companies made money in Nazi Germany before World War II broke out.

"Business is always somewhat amoral but there are times when the government does have to take a stand and business has to fall in line," he said.

He ended by stressing that South Korean intelligence estimates Pyongyang will have a ballistic missile capable of hitting the U.S. within a year, so "time is finite."

Peters cautioned President Trump against "personalizing" his relationships with the leaders of Russia and China. 

"Putin is not our friend. Xi is not our friend. Never was, never will be. This is where you think in cold-blooded bottom lines."

Watch his analysis above.


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