Trump has just upped the ante on N. Korea, signing a new executive order that allows the treasury department to target countries trading with N. Korea:
WATCH: Trump's full statement on executive order that "significantly expands" authority to target those conducting trade with North Korea pic.twitter.com/QcwqFLE3Nf
— NBC News (@NBCNews) September 21, 2017
FOX NEWS – President Trump signed an executive order Thursday targeting North Korea’s trading partners, calling it a “powerful” new tool aimed at isolating and de-nuclearizing the regime.
The president announced the order as he met with South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe on the sidelines of the U.N. General Assembly.
He said the order would help target individuals and companies doing business with Pyongyang. Specifically, he said it enhances the Treasury Department’s authority to target those conducting significant trade with the regime, including by sanctioning foreign banks.
“It is unacceptable that others financially support this criminal rogue regime,” Trump said.
He added, “Foreign banks will face a clear choice. Do business with the United States, or facilitate trade with the lawless regime in North Korea.”
Meanwhile China appears to be pulling back from N. Korea, essentially telling their banks to stop doing business with N. Korea:
Trump also praised China following reports that its banks are halting business with North Korea.
Chinese banks received a document Monday stating they should halt financial services and loans to new and existing North Korean customers as a result of strict U.N. sanctions passed earlier this month, a source told Reuters on Thursday.
I’m sure all of this will have an impact on N. Korea, especially in the long run. But I fear that as long as Kim Jong Un has money for the military and keeps food in his belly, this won’t be effective in stopping him from his pursuit of ballistic nukes.