The United States yesterday lifted key parts of a nearly half- century-old trade embargo against North Korea, following what U.S. officials called a pledge from the highly militarized state to refrain from test-firing long-range missiles it is developing.

While it was unclear how much, if any, trade would result -- North Korea is effectively penniless and has few products the outside world wants -- lifting the sanctions ranks among the most dramatic gestures of conciliation that the United States has made since the Korean War ended in 1953.

Former defense secretary William Perry, who headed a recent review of U.S. policy toward North Korea, had recommended that the United States make a positive gesture if North Korea agreed not to test the Taepodong II, a new missile capable of reaching Hawaii and Alaska.