President Donald Trump has signed an executive order that would enable the United States to sanction individual companies and institutions that finance trade with North Korea.

Trump made the announcement Thursday during a working luncheon with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in.

Trump said the measure would also disrupt other trade avenues for North Korea in efforts to halt its nuclear weapons program.

The president said "tolerance for this disgraceful practice must end now."

He also saluted China's central bank for what he said was a move to stop its banks from trading with North Korea. That development was reported by Reuters Thursday.

The move comes just days after Trump threatened to "totally destroy" North Korea if forced to defend the U.S. or its allies.

Earlier, Moon praised Trump's bellicose speech to the United Nations about the threat, saying the U.S. had "responded in a very good way."

Moon deemed North Korea's provocation "deplorable," prompting Trump to compliment his word choice.

His opponent during last year's election, Hillary Clinton, took criticism for referring to Trump's supporters as belonging in "a basket of deplorables."

Trump called it "a lucky word.'"

The president also said that the U.S. and South Korea were working on improving trade agreements though that was less important than addressing the North Korea threat.

Trump told the U.N. General Assembly this week that the U.S. will have no choice but to "totally destroy" North Korea if the North continues to threaten the U.S. and its allies, including Asian neighbors South Korea and Japan.

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