Trump says launching 'largest-ever' set of sanctions against North Korea

President Donald Trump said on Friday he is launching the "largest-ever" set of sanctions against North Korea.

"Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime," Trump said in excerpts of a speech he was to deliver later on Friday morning.

He said the Treasury Department will soon be taking action to further cut off sources of revenue and fuel that North Korea uses to fund its nuclear program and sustain its military."

He said the effort will target more than 50 "vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions."