Trump will unveil new sanctions against North Korea

Reuters

President Donald Trump speaking at the State of the Union address at the US Capitol in Washington, DC, on January 30, 2018.

President Donald Trump will announce new sanctions Friday in the U.S. effort to stop North Korea’s weapons development.

“Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime,” Trump will say, according to excerpts from his scheduled speech during the Conservative Political Action Conference. “The Treasury Department will soon be taking new action to further cut off sources of revenue and fuel that the regime uses to fund its nuclear program and sustain its military by targeting 56 vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions.”

Trump is slated to speak at CPAC at 10:05 a.m. ET. The Treasury Department is expected to give more details on the actions later Friday.

The U.S. and its allies have enacted a series of sanctions in an attempt to cut off funding for Pyongyang’s ongoing nuclear and missile tests. Despite the economic pressure, North Korea has shown few signs of backing down from its aggressive rhetoric and weapons development.

Part of the strategy includes stopping oil shipments to the communist dictatorship, and reports suggest North Korea has gotten help in evading sanctions. The U.S. has tried to get China — Pyongyang’s only major ally — to apply as much economic pressure as possible.

Trump has repeatedly exchanged explosive rhetoric with North Korea’s Kim Jong Un since he took office in January 2017. Last year, he said North Korean threats “will be met with fire and fury like the world has never seen.” He also boasted that he had a “Nuclear Button” that is “bigger and more powerful” than Kim’s.

While Trump has issued multiple threats toward North Korea, his advisors have repeatedly said the U.S. does not want to use military force.

This story is developing. Please check back for updates.