Trump to announce 'largest-ever' sanctions against North Korea

President Trump is set today to announce the 'largest-ever' package of new sanctions against North Korea, according to the White House.

"The Treasury Department will soon be taking new action to further cut off sources of revenue and fuel that the regime uses to fund its nuclear program and sustain its military by targeting 56 vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions," according to a press pool report on Trump's prepared remarks for the Conservative Political Action Conference in National Harbor, MD.

The new sanctions come amid what some U.S. officials have dubbed North Korea's “charm offensive” at the 2018 Winter Olympics in South Korea and continued criticism over a series of missile tests tied to Pyongyang's nuclear program.

Vice President Mike Pence was scheduled to meet with top North Korean officials earlier this month, but the meeting was canceled at the last minute, according to press reports.

"We regret the failure to seize this opportunity," State Department spokeswoman Heather Nauert said Tuesday.