US President Donald Trump has brokered a ceasefire between Cambodia and Thailand during the ASEAN summit in Malaysia.

The agreement, called the Kuala Lumpur Peace Accords, puts an end to deadly clashes between the Southeast Asian neighbors that have displaced hundreds of thousands of people on both sides in a disputed border region.

Trump also signed bilateral trade agreements with both nations, alleviating crippling US tariffs in exchange for access to rare earth minerals.

In recognition of Trump's role in the negotiations, Cambodian Prime Minister Hun Manet has nominated him for the Nobel Peace Prize.