A confident leader strode into the Singapore summit and won.
In return Mr Trump axed the drills with, it seems, no warning to Seoul (or even United States forces).
President Trump said that he had asked for the concession at the last minute but Kim Jong Un agreed to start the process immediately, "He agreed to that so quickly and so nice - it was really a very nice thing, and he understands it".
He made the announcement at a news conference held in Singapore Tuesday.
"I don't know that I will ever admit that, but I'll find some kind of an excuse", Trump said.
Nor does the agreement include an offer Trump told reporters he made to freeze USA military "war games" with ally South Korea while negotiations between the United States and the North continue.
President Trump salutes Fred and Cindy Warmbier, whose son was imprisoned in North Korea and returned to America on the verge of death; pledges to honor Otto's memory with American resolve.
On nuclear weapons, Mr Kim "reaffirmed his firm and unwavering commitment to complete denuclearisation of the Korean peninsula".
The reaction generally reflects how the rest of the world's markets performed as the two adversaries hurled numerous threats and insults to one another in the past 18 months.
Observers say the document lacks substance, in particular on how denuclearisation would be achieved. When open hostilities ended in 1953 - North and South Korea are still technically at war - the support forces of both sides' allies remained on the ground.
A generic statement from Trump and Kim was the best to hope for from a first meeting, and there is no comparison to the detailed Iran nuclear agreement that the president has ridiculed and canceled.
The UN said in 2014 that North Korea committed "systematic, widespread and grave violations of human rights".
"May the talks", he said, "contribute to the development of a positive path that assures a future of peace for the Korean peninsula and the whole world". "Anybody that takes over a situation like he did at 26 years of age and is able to run it and run it tough". "Obama didn't even give me the time of day", he said, later adding, "He just brushed me off". A new story, a new beginning.
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