President Donald Trump announced Thursday that he had signed a new executive order authorizing additional sanctions against North Korea by targeting individuals, companies and financial institutions that do business with the "criminal, rogue regime."
Speaking before a meeting with South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe, Trump said his goal is the "complete denuclearization" of North Korea and added that the nation led by Kim Jong Un posed a “grave threat to peace and security in our world.”
The president said that for 25 years North Korea had been allowed to get away with “abuse” of the international financial system to fund its weapons development program.
Trump noted that he'd signed the executive order just as China's central bank "has told their other banks...to immediately stop doing business with North Korea." The president praised Chinese President Xi Jinping for the "very bold move."
Further specifics about the sanctions are expected Thursday afternoon in a briefing with Treasury Secretary Steven Mnunchin.