The North Korean confrontation could escalate and Australia is within range of any intercontinental ballistic missiles, but Australia is not a primary target, Foreign Affairs Minister Julie Bishop says.

"We are not a primary target but we have a deep interest in seeing this resolved," Ms Bishop told Fairfax Media in an interview. "It's evident that it could ramp up into a more serious conflict."

She called on all parties to step back from the escalating crisis. She declined to comment on the rhetoric used by US President Donald Trump, who said on Tuesday US time that North Korean threats would be met with "fire and fury like the world has never seen".

Rather than escalating, Ms Bishop said "we urge all parties to continue down the path of easing tensions and encouraging dialogue".