The US President spoke to South Korea President Moon Jae-in in the wake of North Korea’s most recent nuclear test.
Kim Jong-un oversaw North Korea’s sixth nuclear test at the weekend sparking fears of World War 3 breaking out.
The test has been condemned worldwide and Mr Trump has spoken with a number of world leaders in a bid to tackle the crisis.
In a call with South Korea Mr Trump and Moon pledged to “strengthen joint military capabilities”.
Seoul and Washington have been allies in the wake of the Korean War which never officially ended.
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Mr Trump also have “in-principle approval” to lift restrictions on South Korea’s missile payload capabilities, the White House confirmed.
The US President also provided “conceptual approval” for South Korea to purchase “many billions of dollars’ worth” of weapons from the US.
Mr Trump and Moon agreed to maximise pressure on North Korea using all means at their disposal during the phone call.
It comes as German Chancellor Angela Merkel pushes for tougher EU and UN sanctions on Kim Jong-un’s rogue state.
The US said countries trading with North Korea were aiding its “dangerous nuclear intentions” as the United Nations Security Council mulled tough new sanctions and the isolated regime showed signs of planning more missile tests.
South Korea said it was talking to Washington about deploying aircraft carriers and strategic bombers to the Korean peninsula following the North’s sixth and most powerful nuclear test on Sunday.
South Korean President Moon and Mr Trump agreed in a telephone call to scrap a warhead weight limit on South Korea’s missiles, South Korea’s presidential office said, enabling it to strike North Korea with greater force in the event of a military conflict.
At a Security Council meeting, US Ambassador Nikki Haley said North Korea’s Kim Jong Un was “begging for war” and urged the 15-member group to impose the “strongest possible” sanctions to deter him.
She said: “War is never something the United States wants. We don’t want it now. But our country’s patience is not unlimited. We will defend our allies and our territory.
“The United States will look at every country that does business with North Korea as a country that is giving aid to their reckless and dangerous nuclear intentions.”
Miss Haley said the US will circulate a new Security Council resolution on North Korea this week and wants a vote on it next Monday.
China, a top trading partner with North Korea, and Russia called for a peaceful resolution to the crisis.
Liu Jieyi, the Chinese ambassador to the UN, urged North Korea to stop taking actions that were “wrong” and not in its own interests.
Liu said: “China will never allow chaos and war on the (Korean) Peninsula.”
Russia said peace in the region was in jeopardy.
Moscow’s UN Ambassador Vassily Nebenzia said: “Sanctions alone will not help solve the issue.”
North Korea has been under UN sanctions since 2006 over its ballistic missile and nuclear programs.
Typically, China and Russia only view a test of a long-range missile or a nuclear weapon as a trigger for further possible UN sanctions.
Mr Trump had asked to be briefed on all available military options, according to his defence chief.