US President Donald Trump chatted with Chinese President Xi Jinping by phone on Wednesday and said afterwards on Twitter that more “major sanctions” will be slapped on North Korea following its latest long-range missile launch.

“Just spoke to President XI Jinping of China concerning the provocative actions of North Korea,” Trump wrote on Twitter. “Additional major sanctions will be imposed on North Korea today. This situation will be handled!”

Secretary of State Rex Tillerson said the new sanctions will target financial institutions but didn’t disclose details. The US has sanctioned a growing list of banks and trading companies that do business with Pyongyang to halt the flow of money and materials to the North’s nuke and missile programs.

China voiced its strong objection and concerns over North Korea’s latest missile test on Wednesday, according to Yonhap news service. It reportedly joined South Korea, the US and Japan in denouncing the North’s first weapons test in nearly 11 weeks.

“China expresses its grave concerns about and opposition to North Korea’s missile launch activities,” foreign ministry spokesman Geng Shuang said in a press briefing.

North Korea fired what it called a Hwasong-15 intercontinental ballistic missile on Tuesday. Pyongyang said the rocket, which fell into the East Sea near Japan, is capable of hitting the entire US mainland with a “super-heavy” nuclear warhead. It was the North’s first missile test since September 15.