Mnuchin Says He Will 'Draft A Sanctions Package' Against North Korea

Cheryl Sanders
September 4, 2017

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 after Pyongyang conducted its sixth and most powerful nuclear test.

Treasury Secretary Steven Mnuchin said Sunday that he and President Donald Trump want a higher debt limit linked to Hurricane Harvey relief funding. "We need Congress to step up and pass this and help Texas rebuild", he said. "It's clear this behavior is unacceptable".

A few hours after Mnuchin's television appearance, President Trump doubled down on the issue.

President Trump tweeted Sunday that the United States was considering halting trade deals with any country that does business with North Korea.

It's not yet clear how exactly the USA would go about implementing those sanctions, either through unilateral action or in another coordinated global effort.

In June, the Treasury moved to block a Chinese bank with alleged illicit financial ties to North Korea from gaining access to the US banking system. "But people need to cut off North Korea economically". Mnuchin originally had said that Congress would need to raise the $19.9 trillion borrowing limit by September 29 to avoid a catastrophic default on the debt, allowing the government to continue borrowing money to pay bills like Social Security and interest.

Other world leaders and the United Nations on Sunday also condemned North Korea's actions.

The news about sanctions emerges after US President Donald Trump commented on the reports about the nuclear test, saying Pyongyang's "words and actions continue to be very hostile and risky to the United States".

"South Korea is finding, as I have told them, that their talk of appeasement with North Korea will not work, they only understand one thing!" he tweeted. "This is something that we've never seen before, so it's going to require a pretty unprecedented response", Ryan, R-Wis., said on "UPFRONT with Mike Gousha", which is produced in partnership with Abbott qualified the first request by Trump as "just a down payment".

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