NEW YORK (CBSNewYork) – President Donald Trump issued a new executive order Thursday, ramping up economic pressure on North Korea to abandon its nuclear program.
The decision came as the president held talks with two key U.S. allies in the middle of tension on the Korean Peninsula.READ MORE: Gen. Colin Powell, Former Secretary Of State, Dies At 84 Due To Complications From COVID-19
Trump hit North Korea with even tougher sanctions, issuing an executive order that allows the U.S. to impose them on companies and individuals that finance trade with the country, CBS2’s Dick Brennan reported.
“North Korea’s nuclear weapons and missile development is a grave threat to peace and security in our world, and it is unacceptable that others financially support this criminal rogue regime,” the president said Thursday.
The order aims to cut off sources of revenue that fund North Korea’s nuclear ambitions.
“No bank in any country should be used to facilitate Kim Jong Un’s destructive behavior,” Secretary of the Treasury Steven Mnuchin said.
In another major blow, Trump revealed China – Pyongyang’s largest trading partner – is now joining the effort.
“Their central bank has told their other banks to immediately stop doing business with North Korea,” he said.
The announcement came as the president met with leaders of South Korea and Japan, both of whom fully support the move, Brennan reported.
“I am very confident that such moves will contribute to complete de-nuclearization of DPRK,” South Korean President Moon Jae-in said.READ MORE: Reaction Pours In To Death Of Gen. Colin Powell
In his first address to the United Nations General Assembly, Trump wanted the U.S. could destroy North Korea if forced to defend itself or its allies.
“Rocket Man is on a suicide mission for himself,” he said.
Thursday, he signaled dialogue is still possible.
“Why not?” he said.
Meanwhile in the Russia investigation, Facebook CEO Mark Zuckerberg has agreed to release to Congress the Russian-purchased ads linked to the 2016 election.
“We support Congress in deciding how to best use this information to inform the public, and we expect the government to publish its findings when its investigation is complete,” he said.
CBS News has also learned Trump is leaning toward decertifying the Iran nuclear deal. The 2015 agreement froze Iran’s nuclear program in exchange for lifting sanctions.
No decision has yet been made.MORE NEWS: PHOTO GALLERY: Gen. Colin Powell Through The Years
Iran says it won’t return to the negotiating table.