President Donald Trump has issued a new executive order banning all trade relations with North Korea.
The new order is coming two days after Trump said the US might have no choice but to “totally destroy” North Korea if it did not cease its production and testing of nuclear weapons.
Trump said the order would cut the financial flow to North Korea, hence inhibiting its ability to produce the “deadliest weapons known to humankind.”
“Let me announce to you a new executive order signed that significantly expands our authorities to target individuals whose companies, financial institutions, finance and facilitate trade with North Korea,” Trump said.
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“As I outlined in my address to the United Nations General Assembly, North Korea’s missile and nuclear development is a great threat to peace and security in our world and it is unacceptable that others financially support this criminal rogue regime.
“The brutal North Korean regime does not respect its own citizens with the sovereignty of other nations.
“A new executive order will cut off sources of revenue that fund North Korea’s effort to develop the deadliest weapons known to humankind.
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“The order enhances the treasury department authorities to target any individual or entity that conducts significant trade in goods, services or technology with North Korea.”
The step would amount to major progress in US efforts to cut off support for Pyongyang as punishment for its nuclear provocations.
According to CNN, Trump has applied pressure on Beijing, North Korea’s top economic patron, to end trade and financial support.
He also applauded China and the IMF for cutting all trade ties with the country, while calling for a “complete denuclearization” in North Korea.
He added the order would also allow the US to identify new industries- including textiles, fishing and manufacturing-as potential targets for future actions.
The order also bans ships and aircraft that have visited North Korea from entering the US for 180 days.
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