The US President said that he would speak to the Pyongyang leadership at the “appropriate time”.
Previously Mr Trump had taunted North Korean leader Kim Jong-un as “rocket man” and promised to rain down “fire and fury” on his country if he does not stop developing nuclear weapons.
It now appears Mr Trump’s strong arm tactics could actually be working after years of President Obama dithering. North Korea is sending athletes to the Winter Olympics, which are set to begin next month in Pyeongchang, South Korea.
The North has also restarted high level talks with the South for the first time in two years.
According to a White House account of a phone call with South Korean President Moon Jae-in, “President Trump expressed his openness to holding talks between the United States and North Korea at the appropriate time, under the right circumstances”.
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At the same time both leaders stressed “the importance of continuing the maximum pressure campaign against North Korea”. At a press conference Mr Moon said that Mr Trump “deserves big credit for bringing about the inter-Korean talks”.
He said: “It could be a resulting work of the US-led sanctions and pressure.”
US Vice President Mike Pence is leading the American delegation to the Olympics and also praised the efforts of Mr Trump.
He said the talks between the North and the South were a “direct result of the pressure President Trump has been able to marshal on North Korea”.
Despite the change in tone, the US is still reportedly drawing up plans for a “bloody nose” strike on North Korea, meaning a limited bombing campaign.