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Those economic penalties have not yet been activated, but in a statement, the Treasury Department indicated that the U.S. would sanction Turkey for any action that disrupts counter Islamic State operators and indiscriminate targeting of civilians or ethnic and religious minorities.

Mnuchin said on Sunday that the executive order authorizes sanctions that could go as far as shutting down all U.S. dollar transactions with the Turkish government.

Republicans on Capitol Hill, including some of Trump's allies, have expressed outrage at the decision to have U.S. forces in Syria stand aside for Turkey's military operation.

He also responded to criticism on the situation by Sen. Lindsey Graham, R-S.C., who told Axios on Thursday, \"I think he's putting the nation at risk. … If I hear the president say one more time, 'I made a campaign promise to get out of Syria,' I'm going to throw up.\"

\"Lindsey and the president are close. This is obviously an issue that they don't agree on,\" Mnuchin said Sunday, adding that the administration's \"number one issue\" is defeating ISIS.

Late Sunday morning, Trump tweeted that he was working with Congress on sanctions.

Dealing with @LindseyGrahamSC and many members of Congress, including Democrats, about imposing powerful Sanctions on Turkey. Treasury is ready to go, additional legislation may be sought. There is great consensus on this. Turkey has asked that it not be done. Stay tuned!

— Donald J. Trump (@realDonaldTrump) October 13, 2019

Graham replied on Twitter that it was a \"good decision\" by the president to work with Congress \"to impose crippling sanctions\" against Turkey's \"outrageous aggression/war crimes in Syria.\"

Good decision by President @realDonaldTrump to work with Congress to impose crippling sanctions against Turkeys outrageous aggression/war crimes in Syria.

— Lindsey Graham (@LindseyGrahamSC) October 13, 2019

On \"This Week\" Sunday, the treasury secretary also addressed \"phase one\" of a trade deal with China that was announced on Friday. He said that the deal touched on \"very substantial\" issues like intellectual property and financial services.

\"We have a lot of work to do, but I am confident that both sides will work very hard and anticipate we will be closing this,\" he added.

When asked about Trump's telling reporters two weeks ago that China should investigate Biden, Mnuchin said the administration had \"never\" had any discussions on investigating the Bidens in the trade meetings.

\"People who are trying to imply that the president is asking for things or quid pro quos -- I think this is ridiculous,\" he said.

ABC News' Martha Raddatz, Cindy Smith and Elizabeth McLaughlin contributed to this report.

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