Politics North Korea crisis: Mnuchin suggests China trade cut-off on the table

02:23  14 september  2017
02:23  14 september  2017 Source:   FOX News

The White House has readied an executive order that would stop trade with any country doing business with North Korea

  The White House has readied an executive order that would stop trade with any country doing business with North Korea Treasury Secretary Steve Mnuchin told Fox News anchor Bret Baier on Wednesday that he has drafted an executive order for President Donald Trump that would stop trade with any country doing business with North Korea — including the US' largest trading partner, China. The draft order comes amid increasing nuclear threats from North Korea. Earlier this month, in a tweet, Trump threatened to cut off all US trade with any country that does business with the rogue nation.

China is both North Korea 's and the US's biggest trade partner, and has supported recent sanctions against it. Treasury Secretary Steve Mnuchin told reporters on Wednesday night: "We believe that we need to economically cut off North Korea .

U.S. Treasury Secretary Steven Mnuchin says he is putting together new sanctions seeking to cut off trade with North Korea after it detonated a thermonuclear device in its sixth and most powerful nuclear test.

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U.S. warns of sanctions on any country trading with North Korea

  U.S. warns of sanctions on any country trading with North Korea U.S. Treasury Secretary Steve Mnuchin said on Wednesday that if the United Nations does not put additional sanctions on North Korea over nuclear tests, he has an executive order ready for President Donald Trump to sign that would impose sanctions on any country that trades with Pyongyang. "I have an executive order prepared. It's ready to go to the president. It will authorise me to stop doing trade, and put sanctions on anybody that does trade with North Korea. The president will consider that at the appropriate time once he gives the U.N.

U.S. Treasury Secretary Steve Mnuchin said on Sunday that he would put together a package of new sanctions to potentially cut off all trade with North Korea . “If countries want to do business with the United States

We will use economic sanctions to bring North Korea to the table ." Pressed by Baier on whether he specifically meant stopping trade with China , Mnuchin said the executive order would apply to "anybody" who trades with North Korea .

Treasury Secretary Steve Mnuchin suggested Wednesday that the Trump administration is willing to cut off trade with China in an effort to put pressure on North Korea.

“I've worked on an executive order that's ready if the president wants to use it,” Mnuchin said in an interview with Fox News’ Bret Baier. “We can stop trade with any country that does business with North Korea.”

China is North Korea’s closest ally and commercial partner.

Pressed if the administration is really willing to stop trade with China, Mnuchin replied: “Stopping trade with anybody. Nobody would be off the table.”

CHINA SAYS TRUMP’S TRADE THREAT OVER N. KOREA ‘UNACCEPTABLE’

President Trump issued the same threat earlier this month, posting on Twitter that the United States is considering halting trade with "any country doing business with North Korea." His remarks came after North Korea detonated a thermonuclear device in its sixth and most powerful nuclear test.

Mnuchin Calls on World to Cut 'All Trade and Financial Ties' to North Korea

  Mnuchin Calls on World to Cut 'All Trade and Financial Ties' to North Korea The U.S. treasury secretary on Thursday fleshed out an executive order from President Donald Trump granting him more power to sanction those with ties to Pyongyang.Treasury Secretary Steven Mnuchin delivered an ultimatum Tuesday afternoon to global financial institutions planning to conduct business with North Korea: It's us or them.

“There’s a lot we can do to cut them off economically, much more than we’ve done,” Mnuchin said. China accounts for as much as 85 percent of North Korea ’s trade market, according to the Times. “Some critics dismissed the president’s suggestion as an empty threat, because, if carried out

× Trump threatens to cut off trade with China if it does not stop trade with North Korea . In an interview on "Fox News Sunday," Mnuchin said North Korea 's test of what it claims was a hydrogen bomb was "completely unacceptable behavior."

  North Korea crisis: Mnuchin suggests China trade cut-off on the table © Provided by Fox News

China responded by saying Trump's threat is unacceptable and unfair.

“We're going to be careful in using these tools,” Mnuchin said Wednesday, “but the president is committed. We will use economic sanctions to bring North Korea to the table.”

Mnuchin also expressed a desire during the interview to win support from both Republicans and Democrats on a tax reform package.

“Now more than ever it’s important to get tax reform done,” he said. “Because this is about economic growth, this is about economic recovery and with these two big hurricanes, we have to rebuild these areas of the country and we need to create economic growth.”

The Associated Press contributed to this report.

China says Trump's trade threat over N. Korea 'unacceptable' .
China on Monday criticized President Donald Trump's threat to cut off U.S. trade with countries that deal with North Korea and rejected pressure to do more to halt the North's nuclear development. Trump issued the threat after North Korea on Sunday exploded a thermonuclear device in its sixth and most powerful nuclear test. The threat was seen as a warning to China, North Korea's main trading partner and only major ally.

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