America is asking the UN to impose an oil embargo on North Korea following the secretive country's latest nuclear test.
A draft resolution also reportedly proposes banning the exports of North Korean textiles and freezing the assets of leader Kim Jong Un.
The 15 security council members could vote on the measures on Monday.
A resolution needs nine votes in favor and no vetoes by the United States, Britain, France, Russia or China to pass, however it is unclear if China will back the proposition.
Donald Trump says US military action against North Korea is not their "first choice" but they will "see what happens".
The President says he is had a "strong and frank" talk with his Chinese counterpart following Pyongyang's latest nuclear test.
He claims Xi Jinping wants to do something, and they will not put up with what is happening in the rogue state.
Donald Trump also said in a tweet yesterday that he is "allowing Japan & South Korea to buy a substantially increased amount of highly sophisticated military equipment from the United States."
I am allowing Japan & South Korea to buy a substantially increased amount of highly sophisticated military equipment from the United States.
— Donald J. Trump (@realDonaldTrump) September 5, 2017
North Korea's issued new warnings over nuclear weapons yesterday - telling the U.S to expect "more gift packages".
The country's ambassador to the United Nations accused the U.S. of reckless provocations and attempts to put pressure on North Korea.
Japan's defence minister revealed North Korea's latest nuclear test was almost twice as big as first thought.
It is estimated to have been around eight times the size of the bomb which destroyed Hiroshima in 1945.
It reportedly shook buildings in China and Russia.
Russian leader Vladamir Putin, speaking in China on Tuesday, condemned the latest nuclear test as provocative, but said that Moscow views sanctions on North Korea as "useless and ineffective".