Trump to sign executive order allowing the Treasury Department to target companies, individuals that trade with North Korea

President Trump announced a new executive order on Thursday that will allow the Treasury Department to target companies and individuals that trade with North Korea, CNN reports. "It is unacceptable that others financially support this criminal rogue regime," Trump said during a press conference with the leaders of Japan and South Korea.

The order will allow Treasury Secretary Steven Mnuchin "discretion to target any foreign bank knowingly facilitating specific transactions tied to trade with North Korea," Trump said.

Trump also praised Chinese President Xi Jinping's decision to limit financial relations with North Korea through Chinese banks as being "very bold" and "unexpected," The Washington Post reports. "I must tell you this is a complete denuclearization of North Korea that we seek," Trump added.

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Earlier in the week, Trump told the United Nations General Assembly that he might "totally destroy" North Korea if Pyongyang continues to menace the United States and its allies. Trump has also warned that "talking is not the answer" for dealing with the regime earlier this month. However, when asked at Thursday's press conference if a dialogue with North Korea is still possible, CNN reports that Trump answered: "Why not?"

Watch Trump's comments below. Jeva Lange