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 Images

Image source, Getty Images

Image source, Getty Images

Image source, Getty Images

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

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 Images

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 Zurcher

Chinese 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.

Taiwan has confidence in its relationship with the US, Taiwan's Foreign Minister Lin Chia-lung told reporters on Thursday, when asked about the meeting between Trump and Xi.

Earlier this week, Lin said he is not worried that Trump would "abandon" Taiwan.

China has long vowed to "reunify" with the self-governing island and has not ruled out the use of force in doing so.

There are concerns that the island would become a pawn in today's talks between the two superpowers, even as Trump has claimed that China will not invade Taiwan while he is president.

Washington has said it remains committed to the "One China" policy, by recognising and having formal ties with China rather than Taiwan, but it also maintains a robust, unofficial relationship with the island - which includes selling weapons for Taiwan to defend itself.

That said, Trump has not approved any new arms sales to Taipei since taking office early this year.