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President Trump Details More Sanctions Against North Korea

The President says he is drafting an executive order clamping down on foreign banks and businesses that do business with North Korea

NEW YORK CITY  -- The U.S. is targeting individuals and financial institutions that support North Korea. 

President Trump unveiled new U.S. sanctions during a lunch with the leaders of Japan and South Korea today.  He said the focus of the latest sanctions will be on inhibiting trade with North Korea. 

"Our new executive order will cut off sources of revenue that fund North korea's efforts to develop the deadlisest weapons known to human kind," Trump said in an address at the UN General Assembly.

The President also noted that China's central bank is ordering Chinese banks to stop business with the North.  He argued that North Korea has been allowed to abuse the international financial system to facilitate funding for its nuclear weapons.

"Foreign banks will face a clear choice," the President continued. "Do business with the United States or facilitate trade with the lawless regime in North Korea. I wanna be clear, the order targets only one country, and that country is North Korea." 

Trump said North Korea is run by a brutal regime and again condemned the North's pursuit of nuclear weapons.  In a speech to the UN General Assembly this week, Trump condemned North Korea's rapidly-escalating nuclear program. 

He warned that North Korea will be destroyed if it attacks the U.S. or allies.  The President is wrapping-up work during the UN's annual fall meetings in New York.  

(PHOTO: Drew Angerer/Getty Images)

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