President Trump announced a new executive order on Thursday, drastically expanding the federal government’s ability to crackdown on businesses that do business inside North Korea or with Kim Jong Un’s brutal regime.
The President issued the statement at the United Nations, detailing new guidelines that permit the Treasury Department to specifically target international businesses that trade “goods, services, or technology” with the communist nation.
“Our new executive order will cut-off sources of revenue that fund North Korea’s efforts to develop the deadliest weapons known to human kind,” said the President. “The order enhances the Treasury Department’s authorities to target any individual or entity that conducts significant trade in goods, services, or technology with North Korea.”
President Trump praised the Chinese government, who agreed to join the American-led crackdown on companies that operate in the hermit kingdom, saying the Chinese central bank will “immediately stop doing business” with Kim.
“I’m very proud to tell you, as you may have just heard moments ago, China’s central bank has told their other banks […] to immediately stop doing business with North Korea,” said the President.
Watch President Trump’s announcement above.