China's vice minister of finance said the United States should not use North Korea's recent actions as an excuse for imposing sanctions against Chinese banks.

"As a Security Council permanent member, China will of course implement all relevant resolutions," Zhu Guangyao said, according to Reuters.

"But the U.S. should not use their domestic laws as excuses to levy sanctions against Chinese financial institutions."

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North Korea earlier this week announced it had tested an intercontinental ballistic missile (ICBM) for the first time, claiming it could "reach anywhere in the world."

The missile traveled an altitude of at least 1,741 miles before landing more than 500 miles from the launch site, according to CNN, which cited North Korean state media.

U.S. intelligence officials are classifying the ICBM as something never before seen, according to CNN.

President Trump on Thursday said North Korea is behaving dangerously and warned of possible "severe" consequences.