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Trump Signs Executive Order To Crack Down On Trade With North Korea

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Calling North Korean nuclear weapons and missile development a grave threat to global peace and security, President Donald Trump announced Thursday he has signed an executive order seeking to crack down on trade with the reclusive communist nation.

Trump said the order significantly expands the Treasury Department's authorities to target individuals, companies, and financial institutions that finance and facilitate trade with North Korea.

"It is unacceptable that others financially support this criminal, rouge regime," Trump said. "The brutal North Korean regime does not respect its own citizens or the sovereignty of other nations."

He added, "Our new executive order will cut off sources of revenue that fund North Korea's efforts to development the deadliest weapons known to humankind."

Trump's announcement came as he prepared to meet with South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe.

The president noted that his announcement came shortly on the heels of reports that the Chinese central bank has told banks to stop doing business with North Korea.

Trump thanked Chinese President Xi Jinping for the very bold move, which he called "somewhat unexpected."

"Foreign banks will face a clear choice: do business with the United States or facilitate trade with the lawless regime in North Korea," Trump said. "The regime can no longer count on others to facilitate its trade and banking activities."

Trump noted many counties are working to increase economic and diplomatic pressure on North Korea and called on all responsible nations to impose their own measures like his new executive order.

Asked by a reporter in the room if dialogue with North Korea is still possible, Trump responded by saying, "Why not?"

The announcement comes after Trump warned in his address to the U.N. General Assembly on Tuesday that the U.S. would have no choice but to "totally destroy" North Korea if is forced to defend itself or its allies.

Referring to North Korean leader Kim Jong Un as "rocket man," Trump claimed the dictator is on a "suicide mission for himself and for his regime."

(Photo: Gage Skidmore)

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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