Well, the current sactions don't allow any trading with them anyway, the only 'trading' is the food and medical aid the west, and especially S. Korea sends. If they stop, then we get the images of the starving N. Koreans on the media, and might give the Madman a reason to try to attack (secure a source of food).
North Koreans are starving right now -- Kim Jong Il clearly isn't interested in feeding his people in so much as he is retaining control over them... that's the reason a military dictatorship needs to provoke us as North Korea is now. Regardless of how funny it is that the missile failed, Kim Jong Il can now stand in front of his country and be applauded for helping to defend the state against evil Imperialists... which he needs to do in a more and more visible manner as it becomes more and more apparent to the population that places like South Korea and even China are doing a heck of a lot better with different forms of government.
Also Loaf, the Korean War is technically still ongoing, there never was a treaty to end the first war in 1953.
Eh, people say this, but I'd argue against it as anything but an interesting cocktail party fact (if that) -- there was an agreed upon armistice, which is enough to say that the war ended. We don't argue that the Civil War is still going on because there wasn't a peace treaty with the Confederate government.
(Heck, if we want to talk legalities instead of practicalities, the United States didn't declare war in the first place... so it can't *still* be at war with North Korea.)
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