US President Donald Trump in an interview with US network Fox News on Wednesday praised China's efforts on the Korean Peninsula nuclear crisis, Reuters reported.

Trump said China has been very helpful in the situation. "They cut off banking to North Korea."

"We can't let this to go on. We just can't," Trump was asked what he meant by the cryptic phrase "the calm before the storm" which he made during a pre-dinner photo session with his top military advisers and their spouses on October 5, after a meeting in which Trump and the military leaders discussed Iran, the Democratic People's Republic of Korea (DPRK), Afghanistan and the fight against ISIL. The comment had fueled concerns the US and DPRK were closer to war.

On Wednesday, Trump also characterized a diplomatic deal with DPRK brokered under former President Bill Clinton as a failure.

"Before ... the ink was dry on the contract, they were already starting again with the missiles, and with the nuclear, frankly," Trump said.

"We cannot allow this to happen. This should have been taken care of long ago," he said.