US to prepare new draft sanctions on N.Korea: Treasury chief

The US Treasury Department will prepare a package of sanctions that would "cut off North Korea economically" following the isolated regime's latest nuclear test, the department chief said Sunday.

"I'm going to draft a sanctions package and send it to the president for his strong consideration so anybody (who) wants to do trade or business with them will be prevented from doing trade or business with us," Treasury Secretary Steven Mnuchin said on "Fox News Sunday."

"We will work with our allies. We will work with China. But people need to cut off North Korea economically, this is unacceptable behavior," he said.