President Donald Trump on Thursday announced a new executive order that he said would expand authorities to go after individuals, companies and banks involved in trade with North Korea, amid heightened tensions as that country continues ramping up its missile testing.

“Foreign banks will face a clear choice: do business with the United States or facilitate trade with the lawless regime in North Korea,” Trump said. “The regime can no longer count on others to facilitate its trade and banking activities.”

The United States will impose more sanctions on North Korea, President Donald Trump said Thursday.

“We will be putting more sanctions on North Korea,” the president told reporters Thursday morning ahead of a meeting with President Ashraf Ghani of Afghanistan.