Elise Hu

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Updated at 1 p.m. ET Wednesday

North Korea said it is canceling high-level talks with South Korea planned for Wednesday at their shared border area because of ongoing military exercises between the South and the United States.

The talks were scheduled for Seoul and Pyongyang to follow up on the agreement struck by the two Korean leaders at their historic summit last month.

Congratulated for an apparent breakthrough in relations between South Korea and North Korea, South Korean President Moon Jae-in said, "It's President Trump who should receive the Nobel Prize."

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The leaders of North and South Korea are making history at the DMZ.

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