Donald Trump says the US can sign a trade deal with China "pretty soon" following talks with Chinese President Xi Jinping in South Korea
The talks will be seen as a breakthrough after trade tensions had ramped up again between the world's two biggest economies
Trump also announces lower tariffs on Chinese imports and says Beijing will give the US better access to rare earths - what are rare earths, and why does the US need them?
China releases a more subdued version of the meeting, which says both sides have reached a consensus to resolve "major trade issues"
Here's why the meeting matters - even if you're not in the US or China
Meanwhile, there's been no word on a final deal on the sale of Chinese-owned TikTok's US operations
Our correspondents unpack the moment when Trump and Xi met, explain what was on the table for the talks, and why Xi would have felt like he was walking in with a strong hand
When asked about Canada on Air Force One, Trump said he "had a very nice conversation" last night with Canadian Prime Minister Mark Carney.
The two leaders were seated across each other during a dinner - the first time they have met since Trump cancelled trade talks last week over an anti-tariff TV ad that aired in Canada.
Trump also said he was "too busy" to meet with North Korean leader Kim Jong Un during this trip, but that he could "come back".
"I had a great relationship with Kim Jong Un. I think if I didn't get elected... He doesn't like too many people other than me, I think you'd have had a war," he told reporters on Air Force One.
North Korea fired surface-to-air cruise missiles just hours before Trump landed in South Korea yesterday.
When asked how he would rate the meeting from 1-10, Trump said he rated the meeting, calling it a "great success".
"They congratulated me on the tremendous success we've had," he said.
Trump also says he will visit China in April, and says Xi will be coming to the US "sometime after that", possibly to Washington DC or Palm Beach in Florida.
Trump lightens the mood in his gaggle with reporters, remarking how bumpy the flight has been.
"This is a rough flight... the interviews are tough enough without your life being threatened," he jokes as he is asked about tariff rates on China.
Taiwan never came up in the discussions, Trump says.
There were concerns ahead of today's talks that the self-governed island would become a pawn in the highly-anticipated meeting between the two superpowers.
Trump says he has agreed to "work together" with Xi on Ukraine.
"Ukraine - we're both going to work together - we agree that the sides are locked in fighting and sometimes you gotta let them fight I guess. But we're going to work together on Ukraine," he says.
Trump said that now is the "appropriate" time for the US to resume nuclear testing given that other major countries had started to do so.
"It had to do with others," he says, highlighting that the US had the largest nuclear stockpile.
Trump said Beijing will be speaking to Nvidia's CEO Jensen Huang, noting that US authorities serve as "sort of a referee" in their discussions.
Trump also said these discussions will not involve the Blackwell chip - considered Nvidia's best chip for AI - in response to a reporter's question, but did not give further details on this aspect of the talks.
"But it's a lot of chips, and that's good for us," he said.
Trump says the issue over the trade of rare earths has been settled, but has not given any details.
The flow of rare earths has been a key point of contention between the US and China.
Beijing holds a monopoly over the processing of critical minerals, and tightened its grip over rare earth exports in recent weeks.
"All of the rare earth [issue] is settled, and that's for the world... This was a worldwide situation and not just a US situation," Trump told reporters.
"There's no roadblock from China anymore," he adds.
Washington and Beijing are "in agreement on many things", Trump said.
He said that effective immediately, the US will reduce tariffs on all Chinese goods enacted earlier in response to the flow of chemical ingredients for fentanyl into the US.
Trump noted that China, as announced earlier, will start buying large quantities of soybeans "which I appreciated", he said.
We are hearing from President Trump live on Air Force One now, where he is speaking with reporters.
"It was an amazing meeting. He is a great leader," Trump says.
"We have come to a conclusion on many important points and we will be handing them to you in a little while," he says.
As we wait for details of the meeting between Trump and Xi to be released, here are images from earlier today at Gimhae Air Base in South Korea.
Image source, Getty ImagesXi strikes a professional stance during the meeting, one analyst notes
Image source, Getty ImagesWhile Trump appeared to be aware that he was coming on the backfoot, the same analyst notes
Image source, Getty ImagesThe meeting ends in a handshake, the same way it started
Image source, Getty ImagesTrump has left on Air Force One with no immediate word on how the talks went
Trump's Air Force One has taken off and is enroute to Washington. The US president has not commented on how his meeting with Xi went.
Earlier this morning, the Chinese stock market reached its highest in a decade in a sign that investors were optimistic about the presidents' meeting.
China’s benchmark Shanghai Composite Index gained over 2% in the past five days, reaching a high this morning of 4,025.39 points.
Markets around the world posted gains over the week as US and Chinese officials tried to ease trade tensions, raising hopes of a trade agreement between the sides.
The meeting has now concluded but we have yet to hear what has come out of it.
Laura Bicker
China correspondent, reporting from Busan
Xi is now on the way to Gyeongju
The welcoming committee for President Xi in the streets outside the airport have been carefully choreographed.
The people cheering for the Chinese leader are being told where and when to wave their flags by officials speaking in Mandarin.
Any anti-Chinese protests have been kept well away. President Xi is now driving to Gyeongju, where the Apec leaders' summit is due to begin tomorrow. This is his first visit to South Korea in 11 years.
Image source, Getty ImagesTrump and Xi shook hands as they leave the meeting
Trump and Xi are now leaving their meeting venue at the airport. Xi's motorcade is rolling away, while Trump has boarded Air Force One.
Xi will be travelling to the city of Gyeongju, where the Asia-Pacific Economic Cooperation (Apec) summit is held.
World leaders are expected to arrive for the Apec leaders' summit that begins tomorrow.
Meanwhile Trump will be flying out of South Korea. He attended several Apec-related events yesterday and will be skipping the main summit tomorrow. Neither one has made any comment about their meeting.
Anthony Zurcher
North America correspondent, travelling with the president
The press pool is now gathered outside of the building where Trump and Xi are meeting. Parked on the tarmac is Air Force One, which Trump will board to fly out of South Korea.
Image source, BBC/Anthony Zurcher
Image source, BBC/Anthony ZurcherChinese broadcaster CCTV says the two leaders met for an hour and 40 minutes, longer than scheduled.
The meeting was originally supposed to wrap up at 12:30 local time, with Trump expected to depart by 12:45 local time.
The bilateral talks, which have happened behind closed doors, have ended.
We'll bring you the latest lines from the meeting as we get them. Stick with us.