Maggie Haberman

Ukraine basically has no cards to play. Trump has rejected the idea of NATO membership for Ukraine, and Trump also does not want to provide NATO membership. security guarantees for Ukraine. He wants Europe to do it, and that is going to require a heave of the will by Europeans, and we'll see what that looks like.

Ukraine basically has no cards to play. Trump has rejected the idea of NATO membership for Ukraine, and Trump also does not want to provide NATO membership. security guarantees for Ukraine. He wants Europe to do it, and that is going to require a heave of the will by Europeans, and we'll see what that looks like.

So the new deal that is being negotiated... Because the first one kind of got rejected? The first one was rejected, and then other iterations of it were rejected, and then the Commerce Secretary, Howard Lutnick, jumped in and Yeah, how do we get to a deal? So what is now there, because of various forces, is a smaller deal in terms of what the U.S. will get. Trump keeps saying $350 billion.

So the new deal that is being negotiated... Because the first one kind of got rejected? The first one was rejected, and then other iterations of it were rejected, and then the Commerce Secretary, Howard Lutnick, jumped in and Yeah, how do we get to a deal? So what is now there, because of various forces, is a smaller deal in terms of what the U.S. will get. Trump keeps saying $350 billion.

My understanding is the actual number is smaller than that. But it still does not include a security piece. And that was clearly a red line for Trump. And Zelensky clearly realizes that and is taking what he can get.

My understanding is the actual number is smaller than that. But it still does not include a security piece. And that was clearly a red line for Trump. And Zelensky clearly realizes that and is taking what he can get.

Yes. I mean, this is – look, in a long line of things that Donald Trump promised during the campaign and is doing, this is one. He made very clear that he did not support the aid to Ukraine. Trump also looks at all of these engagements through an economic lens. He does not look at them through – A foreign policy and the same way, you know, as some kind of a moral exercise.

Yes. I mean, this is – look, in a long line of things that Donald Trump promised during the campaign and is doing, this is one. He made very clear that he did not support the aid to Ukraine. Trump also looks at all of these engagements through an economic lens. He does not look at them through – A foreign policy and the same way, you know, as some kind of a moral exercise.

He is looking at it as what is the best deal for the U.S. He sees Ukraine as a tiny country. Russia is obviously not the superpower it once was, but in Trump's mind, it looms much larger from its stature decades ago. And he sees more business opportunities for the country, as he has said. It's interesting.

He is looking at it as what is the best deal for the U.S. He sees Ukraine as a tiny country. Russia is obviously not the superpower it once was, but in Trump's mind, it looms much larger from its stature decades ago. And he sees more business opportunities for the country, as he has said. It's interesting.

There was a whole sideshow in the first term when Trump visited the UK and met with the royal family. And there were all these complaints about how he handled himself and some concerns by people around the royals that... They didn't care for how the Trump entourage was behaving and so forth. And that was all very much on the UK's terms.

There was a whole sideshow in the first term when Trump visited the UK and met with the royal family. And there were all these complaints about how he handled himself and some concerns by people around the royals that... They didn't care for how the Trump entourage was behaving and so forth. And that was all very much on the UK's terms.

This is all on Donald Trump's terms and using the British royal family, which Trump has been enchanted by since childhood, and he credits his mother for that, as a chit. And so this is absolutely a change in tone and a change in approach. And it is definitely a bending of the knee of some sorts. But it is also a reflection of how world leaders have, instead of bristling against Trump,

This is all on Donald Trump's terms and using the British royal family, which Trump has been enchanted by since childhood, and he credits his mother for that, as a chit. And so this is absolutely a change in tone and a change in approach. And it is definitely a bending of the knee of some sorts. But it is also a reflection of how world leaders have, instead of bristling against Trump,

Trump trying to set the debate on his own terms are just essentially saying, eh, hell with it at this point. And that's pretty different than the first term. This is a recognition that Trump wants some kind of offering, and this one is pretty clever.

Trump trying to set the debate on his own terms are just essentially saying, eh, hell with it at this point. And that's pretty different than the first term. This is a recognition that Trump wants some kind of offering, and this one is pretty clever.

Well, one of them is probably more specific to the U.S. economy than the other, but yes.

Well, one of them is probably more specific to the U.S. economy than the other, but yes.

Thank you, Michael.

Thank you, Michael.