"We put on a maximum pressure campaign which a major component of that was sanctions: These economic sanctions really do work," Mnuchin said at the Milken Global Investment Conference on Monday. "There's no question in my mind that the reason why he is willing to negotiate is the sanctions."
Mnuchin's comments, which came at the annual Milken Global Investment Conference in Beverly Hills, California, came amid an historic warming of relations between North and South Korea.
At a summit last Friday, Kim and South Korean President Moon Jae-in declared that they will begin drafting the formal end to the Korean War and work together on the "denuclearization" of the Korean Peninsula. While lacking key details, the recent announcement concerning nuclear disarmament comes after months of intense pressure from the White House against North Korea's nuclear program.