"Today we are saying the world will never accept a nuclear armed North Korea", Haley said.
So for instance, while the USA wanted a total oil embargo, this resolution calls for a cap on oil exports to North Korea, cutting it, Haley says, by about 30 percent.
North Korea says it will make the United States pay a heavy price if a proposal Washington is backing to impose the toughest sanctions ever on Pyongyang is approved by the U.N. Security Council this week.
The Nuclear Safety and Security Commission said its land-based xenon detector in the northeastern part of the country found traces of xenon-133 isotope on nine occasions, while its mobile equipment off the country's east coast detected traces of the isotope four times.
The spike in activity began soon after the USA said it planned to ratchet up sanctions against North Korea. On 14 May 2017, North Korea tested what it said was a "newly developed ballistic rocket" capable of carrying a large nuclear warhead.
The resolution instead bans trade in textiles, cuts off natural gas shipments to North Korea, places a ceiling on deliveries of refined oil products and caps crude oil shipments at current levels.
Noting that oil is the lifeblood of North Korea's effort to build and deliver a nuclear weapon, Haley said the resolution reduces nearly 30 per cent of oil provided to North Korea by cutting off over 55 per cent of its gas, diesel, and heavy fuel oil.
There are a few things that made it through the negotiating process - for instance, a ban on textile exports from North Korea, for instance.
She added: "The North Korean regime has not yet passed the point of no return". And there's also a ban on new work permits for North Korean workers.
Rycroft called the resolution "a very significant set of additional sanctions", declaring that "we are tightening the screw, and we stand prepared to tighten it further". South Korea has detected moves that indicate it may soon launch another intercontinental ballistic missile.
Ms Haley last week dismissed this proposal as "insulting".
The U.N. Security Council is stepping up the pressure on North Korea. But they are concerned about the nuclear and missile tests.
China's United Nations ambassador, Liu Jieyi, called for a resumption of negotiations "sooner rather than later".
"It's hard to overstate just how devastating a conflict on the Korean peninsula would be", said Representative Eliot Engel, the committee's top Democrat.
That would amount to a 10 per cent cut in oil products, according to the US Energy Information Administration, which estimates annual exports to North Korea at almost 2.2 million barrels. Russian Federation and China have also expressed concern about the humanitarian impact of strengthening sanctions on North Korea.