U.S. President Donald Trump announced Thursday new unilateral sanctions taking aim at North Korea's nuclear and ballistic missile programs by sanctioning banks, other entities or individuals that trade with the country.

"The (North Korean) regime can no longer count on others to facilitate its trade and banking activities," Trump said as he unveiled the sanctions at the start of a meeting with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae In on the sidelines of the U.N. General Assembly in New York.

"Many countries are working with us to increase economic and diplomatic pressure on North Korea, but I continue to call on all those responsible nations to enforce and implement U.N. sanctions and impose their own measures like the ones I am announcing today," he said.

According to the White House, the new executive order Trump signed Thursday enables the Treasury Department to ban any individual trading goods, services, or technology with North Korea from making transactions with the U.S. financial system.

It also sanctions any foreign bank that knowingly conducts or facilitates transactions tied to trade with North Korea.

"Foreign financial institutions are now on notice that, going forward, they can choose to do business with the United States or with North Korea, but not both," Treasury Secretary Steven Mnuchin told reporters in New York after the announcement.

Trump said the Treasury Department will identify new potential targets for sanctions, including North Korea's textiles and fishing industries, and take new action to prevent sanctions evasion.

He stressed that the new sanctions do not target any country other than North Korea, and praised a decision by the People's Bank of China to order Chinese banks to stop doing business with North Korea.

Abe and Moon both hailed the new sanctions, with the Japanese leader welcoming them "from the standpoint of putting a new level of pressure on North Korea unlike any before."

Citing the Chinese central bank's action, as well as Trump's order, Moon said he is "very confident such moves will greatly contribute to the denuclearization of North Korea."

After the meeting, Abe told reporters he, Trump and Moon had "completely agreed to carry out forceful appeals to the international community...to place unprecedented, markedly high pressure on North Korea and make it change its policies."

He said the heightened threat from North Korea has made the coordination between Tokyo, Washington and Seoul stronger.

According to a senior Japanese official, the three agreed in the roughly hourlong lunch meeting to keep making appeals to China and Russia, especially for the full enforcement of U.N. sanctions, the Japanese official said.

The latest Security Council resolution, adopted in response to North Korea's Sept. 3 nuclear test, caps for the first time the supply of oil and petroleum products to the country.

Yonhap news agency quoted South Korean Foreign Minister Kang Kyung Wha as saying the three leaders "agreed on the need for the international community to put maximum pressure and sanctions to the level that North Korea cannot withstand and voluntarily come to the dialogue table."

Earlier Thursday in his general debate address, Moon urged North Korea to engage in dialogue, marking a contrast with Abe, who the day prior said the North has only ever used dialogue to "deceive" and "buy time" to work on its weapons programs.

A day earlier, Trump warned in his debut U.N. address that the United States "will have no choice but to totally destroy" North Korea if "forced to defend itself or its allies."

Japan and South Korea are both bound by security treaties with the United States, although in Japan's case its pacifist Constitution prevents it from taking part in military action unless its own survival is explicitly at stake.

Abe and Moon expressed appreciation in their meeting with Trump for his stance that "all options are on the table" in dealing with North Korea. The Trump administration has made clear that this potentially includes military action.

Trump held separate talks with Moon ahead of the trilateral summit and with Abe afterward, but the two Asian leaders refrained from holding their own bilateral meeting in New York.

Asked if the three leaders discussed South Korea's decision Thursday to provide $8 million in humanitarian aid to North Korea via two U.N. agencies, the Japanese official said they agreed to coordinate North Korea policy with each other.

Japan feels it is "necessary to avoid taking action that could undermine the pressure on North Korea," and as such is urging South Korea to "act with care," he said.