The U.S. Department of State has decided to enforce sanctions against certain foreign entities and individuals under the Iran, North Korea, and Syria Nonproliferation Act. These punishments are for transferring or acquiring goods, services, or technology that could help develop weapons of mass destruction or missile systems. Specifically, companies from China and a North Korean individual in China are affected. The sanctions include a ban on U.S. government procurement and assistance, as well as suspending export licenses for these entities. These measures will be in place for two years unless changed by the Secretary of State.
Simple Explanation
The U.S. Department of State is telling some people and companies, especially in China and North Korea, that they can't do business with the U.S. government for two years because they were involved in activities that help make dangerous things like missiles.