He also suggested squeezing China, the North's patron for many decades and a vital US trading partner, on the economic front, in hopes of persuading Beijing to exert leverage on its neighbor.
Trump tweeted that the US is considering "stopping all trade with any country doing business with North Korea."
The latest military provocation from the isolated communist country reinforces the danger facing America, Trump said earlier in a series of tweets, adding that "talk of appeasement" is pointless.
Today's detonation by North Korea was the first nuclear test since Trump took office in January.
After attending church near the White House, Trump made his "We'll see" comment in response to a question from reporters.
The precise strength of the explosion, described by state-controlled media in North Korea as a hydrogen bomb, has yet to be determined.
Secretary of State Rex Tillerson was calling counterparts in Asia, and Trump's treasury secretary, Steven Mnuchin, said he was putting together proposed new sanctions for Trump to consider that would seek to cut off trade with North Korea.
The action suggested in Trump's trade tweet would be radical: The US imports about USD 40 billion in goods a month from China, North Korea's main commercial partner.
Trump warned last month that the US military was "locked and loaded, should North Korea act unwisely" and that the US would unleash "fire and fury" on the North if it continued to threaten America.
The bellicose words followed threats from North Korea to launch ballistic missiles toward the US Pacific territory of Guam, intending to create "enveloping fire" near the military hub that's home to US bombers.
The North's latest test was carried out at 12:29 pm local time at the Punggye-ri site where it has conducted past nuclear tests. Officials in Seoul put the magnitude at 5.7; the US Geological Survey said it was a magnitude 6.3. The strongest artificial quake from previous tests was a magnitude 5.3.
He branded North Korea "a rogue nation which has become a great threat and embarrassment to China, which is trying to help but with little success."
Yet Trump appeared to be more critical of South Korean President Moon Jae-in, who has attempted to reach out to the North.
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