The president announced Beijing has ordered its banks to stop doing business with North Korea

"The executive order will cut off sources of revenue to develop the deadliest weapons known to human kind," said Trump. "The order targets one country and that is North Korea."

"Foreign financial institutions are on notice going forward," said Secretary of the Treasury Steven Mnuchin. "They can do business with the United States or North Korea, but not both."

South Korea's president and the Japanese prime minister praised Mr. Trump for this move to help target people, companies, banks financing and facilitating trade with North Korea.

"The objective is for them to stop their missile tests and give up their nuclear weapons," said Mnuchin.

No response from Pyongyang yet in regards to the new sanctions.

CBN News

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