Story highlights Mnuchin reiterated previous comments he had made regarding the US' response to North Korea's nuclear program

The United Nations approved sanctions on the country less than a month ago

Washington (CNN) Treasury Secretary Steve Mnuchin has prepared an executive order that would allow President Donald Trump to sanction any country that continues to trade with North Korea if the United Nations doesn't pass broad new sanctions under consideration, he said Wednesday.

"I have an executive order prepared that's ready to go to the President that would authorize me to stop doing trade, put sanctions on anybody that does trade with North Korea, and the President will consider that at the appropriate time once he gives the UN time to act," Mnuchin said while speaking with reporters on Air Force One.

Earlier Wednesday, the US proposed a resolution at the UN that would include broad new sanctions on North Korea and freeze the assets of leader Kim Jong Un in the wake of global concern over the rogue nation's nuclear weapons tests.

"We believe we need to economically cut off North Korea while they do this action," Mnuchin said. "If we don't get those additional sanctions at the UN," Trump will consider the already-drafted executive action, he added.

On Sunday, North Korea announced it had successfully conducted its sixth weapon test, which according to readings of the tremors appeared to be the most powerful weapon Pyongyang has tested.

Read More