>> welcome to "bloomberg markets." let's get a check on these markets now. we are seeing green on the screen. welcome reprieve for a market that has been otherwise down. the s&p 500 is up 3/10 of 1% bringing the week's losses to 2%. nasdaq 100 up 1%. the 10 year yield is down to about 4.23 on the week.

it has been fluctuating on that level but lower nonetheless. we will see where that goes. it has been around 20 the latter part of the week. it hit 21 earlier in the day. elevated volatility in this market. not that volatile given what we have seen earlier today. moments ago president trump and ukraine's president zelenskyy spoke at the white house. they had been expected to sign a deal that would allow u.s. to tap into future revenue from ukraine's national resources. the two seem to need to hash out the details to stay the least -- say the least. kailey leinz is joining us in washington. it does not look pretty. it looks like they were arguing according to our headlines. press no longer allowed to

attend the sidelines of the meeting. trump saying it will be hard to do business like this, what are the flashpoints? kailey: we will see all of this play out when the tape of this meeting is rolled back, that could happen any minute. what started as a cordial meeting with president trump this minerals agreement they would sign later this afternoon that would tie the u.s. and ukraine closer together guaranteeing in his mind ukrainian security after a peace deal. we heard some pushback from volodymyr zelenskyy. he said the deal is a good start but is not enough saying they need security guarantees. it does seem after that things really developed. zelenskyy got into an exchange with jd vance who suggested he was on a publicity tour, vance did that is saying he was litigating in front of the american people and president trump also got involved in that back and forth when things got heated suggesting zelenskyy

doesn't have the cards he's gambling with world war iii and he needs to be thankful for u.s. support provided busbar. it seems things got ugly in the oval office over the course of 30 minutes of discussion. as you say, the press is now kicked out of the room. conversations will continue privately in the white house. these two were scheduled to have a joint news conference. if this deal is going forward. things got incredibly tense. we are about to see that video play out shortly. sonali: whether they even address the public together or if a deal is signed, how much risk is there in terms of this deal getting over the finish line? do we know at this point? kailey: it's hard to tell given the language. it is a bit obscure. we will get the full context

when we see the video played out in full. there is this minerals agreement specifically between the u.s. and ukraine, the sharing of profits from resources that ukraine has. that is a separate deal technically to the peace deal they are working on. when donald trump was saying things it will be difficult to make a deal it's unclear what deal he was talking about, if he was suggesting ukraine would have a hard time making a deal with russia based off what language we were hearing or if he was suggesting the deal with zelenskyy himself could be in jeopardy. the one thing i will say that is clear is there is still much disagreement over what exactly constitutes a security guarantee. we just saw this week in washington two european leaders in washington who have said they are willing to provide peacekeeping forces in order to maintain a piece once a deal is reached. they would like to have u.s.

support. president trump has suggested he is not looking to provide security guarantees on the part of the u.s. beyond just a minerals deal that will act as a deterrent to vladimir putin because there will be a u.s. presence in ukraine. we will see if they ironed it out over the course of however long they will be meeting. clearly a lot of questions still remaining. sonali: we thank you for your reporting and are looking forward to your coverage later especially after that playback and during david westin's conversation with u.s. secretary scott bessent -- treasury secretary scott bessent. she is the director of the clinical mineral security program at the center for strategic and international studies, when you look at what is happening in terms of the negotiation between president trump and president zelenskyy, take a big step back about why this minerals deal matters? >> we are potentially discussing

ending a war using a minerals agreement. the bloodiest war since world war ii, the better part of 11 years is a big deal. sonali: when you think about the minerals that are being discussed here and the security guarantees being negotiated, how do you expect this to be played out? >> -- in essence what would ukraine be giving up for what they are asking for? >> in my opinion, ukraine is getting a pretty good deal. the way this proposed deal is negotiated, the revenues come for the development of future assets. mineral oil and gas with 50% of revenue that goes into this fund. it only comes from new projects. globally it takes 18 years to develop a new mind.

the new mapping we are relying on is from 30 plus years ago. and then we have to go into our project development phase. we are really looking at two decades away for a lot of these projects to be eligible. in the meantime, ukraine gets certain benefits. a lot of infrastructure was blown out. mineral exploration and production are extremely energy intensive. there is going to be a rebuilding of transportation and energy infrastructure. the bigger question of security comes into play. one of the tense points in the current conversation is included in the security guarantee. president trump and president emmanuel macron saying there is an implicit guarantee.

the counter to that is president putin has said he is willing to potentially make his own minerals, using minerals found not only in russia but russian occupied land. the rifle concerned about whether there could be potential expansion of unoccupied land. sonali: we have to go back to the playback. we will bring you now that playback between trump and zelenskyy. president trump: i could say that, the other side is an exactly enough here either. it's not a question of alignment. i'm aligned with the world. i want to get the things aligned with europe. i want to see if we could get this thing done. do you want me to be tough? i could be tougher than any human being you have ever seen. you will never get a deal that way. one more question. reporter: for four years the

united vp vance: 44 years we had a president that stood up and talk tough about vladimir putin. the path to peace and prosperity is may be in diplomacy. we tried the pathway of joe biden puffing our chest and pretending the president of the united states words matter than actions. what makes america a good country is america engaging in diplomacy. that's what president trump is doing. >> he occupied big parts of ukraine, east of crimea. during those years, i'm not just speaking about biden. a lot of them were president

obama and president trump, president biden, now president trump. in 2014, nobody stopped him. he just occupied and took. president trump: 2015. >> 2014. president trump: i was not here. president zelenskyy: people have been dying on the combat line, nobody has stopped him. we had conversations with him, a lot of conversations. bilateral conversations. in 2019i signed with him the deal, macron, cease fire. all of them told me he will never go. after that, he broke the

cease-fire. he killed our people and didn't exchange prisoners. we signed the exchange of prisoners what he didn't do it. what kind of diplomacy are you speaking about? vp vance: i'm talking about the kind of diplomacy that will end the destruction of your country. i think it's disrespectful for you to come in the oval office and litigate this in front of the american media. you are going around enforcing conscripts to the frontline because you have manpower problems. you should be thanking the president. president zelenskyy: you say what problems we have. vp vance: i have watched and seen the stories, you bring people on a propaganda tour, mr. president. do you disagree you have had problems bringing people into your military? do you think it's respectful to come to the oval office of the

united states of america and attacked the administration trying to prevent the destruction of your country? president zelenskyy: what start -- let's start from the beginning. during the war, everybody has problems. even you. god bless. president trump: you don't know that. don't tell us what we are going to feel. we are trying to solve a problem. you are in no position to dictate. you are in no position to dictate what we are going to feel. we will feel very good and very strong. you are not in a very good position. you have allowed yourself to be in a very bad position. president zelenskyy: from the very beginning of the war. president trump: you don't have the cards right now. with us, you start having the cards. you are gambling with the lives

of millions of people. you are gambling with world war iii. what you are doing is very disrespectful to the country, this country. far more than a lot of people said. vp vance: have you said thank you once? you went to pennsylvania and campaigned for the opposition in october, offer some words of appreciation for the united states of america and a president trying to save your country. president zelenskyy: if you speak very loudly about the war. president trump: he is not speaking loudly. your country is in big trouble. you are not winning. you have a damn good chance coming out ok because of us. president zelenskyy: we have

been alone. president trump: you haven't been alone. we you $350 billion. military equipment. if you didn't have our military equipment, this war would have been over in two weeks. president zelenskyy: in three days, i heard it from putin. president trump: it's going to the very hard to do business like this. vp vance: let's go litigate those disagreements rather than trying to fight it out in the american media when you are wrong. president trump: i think it's good for the american people to see what is going on. you have to be thankful. you don't have the cards. people are dying.

you are running low on soldiers. it would be damn good, then you tell us i don't want a cease fire. if you could get a cease fire right now i would tell you to take it so the bullet stopped flying. president zelenskyy: of course we want to stop the war. president trump: you get a cease fire faster. president zelenskyy: ask our people about the cease-fire, what they think. president trump: that was a guy named biden, he's not a smart person. that was with obama, who gave you sheets, i gave you javelins. obama give you sheets. the statement is obama gave sheets and trump gave javelins. you have to be more thankful. let me tell you, you don't have

the cards. with us, you have the cards. without us, you don't have any cards. going to be a tough deal to make . the attitudes have to change. reporter: what if russia breaks the cease-fire and peace talks? president trump: what are you saying? one of a bomb drops on your head right now? why did they break it? they broke it with biden because they didn't respect him. they didn't respect obama. they respect me. putin went through a lot with me. he went through a phony witch hunt. russia, russia, russia. that was a phony hunter biden, joe biden scam. hillary clinton, shifty adam schiff. he had to go through that.

he did go through that. he went through it. he was accused of all that stuff. he had nothing to do with it. it came out of hunter biden's bathroom. they came out of hunter biden's bedroom. it was disgusting. they said the laptop from hell was made by russia. the whole thing was a scam. he was being accused of all that stuff. all i could say is this. you might've broken deals with obama, bush, you might've broken them with biden, i don't know what happened. he didn't break them with me. i don't know if he could make a deal. i have empowered you to be a tough guy. i don't think you would be a tough guy without the united states. you either have to make a deal or we are out. i don't think it will be pretty

if we are out. you don't have the cards. once we signed that deal, you are in much better position. you are not acting at all thankful. it is not a nice thing. i think we have seen enough, what do you think? this is going to be gray television, i will say. we will see what we could do. [multiple voices speaking] sonali: certainly a historic moment over at the white house

and a long anticipated meeting with ukraine's zelenskyy and president trump ahead of a highly anticipated minerals deal. we want to recap some of these headlines with you, tyler, you had president trump telling zelenskyy he is gambling with world war iii. he insisted he would be more thankful. does this interaction, everybody just saw it, it was incredibly tense. doesn't put any of the negotiations into play? tyler: that remains to be seen. clearly a significant development. president trump saying he doesn't feel ukraine has been thankful enough when it comes to accepting this critical minerals deal. we really started to feel those tensions heightened when jd vance weighed in accusing zelenskyy of litigating in front of the american public and zelenskyy asking vance if he has

been to ukraine. when jd vance was a senator he was one of the staunchest opponents against additional aid to ukraine. he led the fight to stall that supplemental assistance. that flight was happening a year ago. that aid ended up being released. some big questions about the critical minerals deal. president trump has repeatedly said that commitment would give implicit security guarantees to ukraine considering they will have this nested economic interest in the future of the country. zelenskyy saying he wants more than just that document. he knows what european allies were going to do seems to be a very big reversal in policy. go staunchly against what our european allies say. sonali: if you think about what's at stake ahead as well do you think there's going to be more tensions brewing in the outcome of this meeting?

it is not just a relationship between the united states and ukraine at stake here. it is also the broader nato alliance. tyler: we saw those tensions on display between president macron and the u.k. prime minister came to the white house this week to smooth over what had been european allies being concerned about being left out of negotiations. saying he would up their security and defense spending as a part of the gdp. whether or not that was enough to get president trump to commit to some of these further guarantees. also ukraine would really like to see going forward. the 1:00 p.m. press conference, they did call reporters to line up for that press conference. at the moment it appears it is still on. sonali: it will be interesting

how they address the american public after the american public saw how that conversation went down. do you expect any change in tone? what was the dynamic, you had president trump and the vice president not even let exult lens speak in many instances -- zelenskyy speak in many instances. tyler: we saw president trump with a softer tone saying he did not call him a dictator earlier this week. there were questions brewing about how these negotiations were happening behind the scenes and whether or not anything had swayed president trump. president trump saying he's on the side of ukraine and russia, he just wants peace. zelenskyy pushing him for those further security guarantees. also any additional u.s. security assistance.

zelenskyy also asking for this. sonali: the point that you made about whether vice president vance had been to ukraine, certainly there somebody else in the administration worth keeping an eye on in terms of how this deal was handled, that is treasury secretary scott bessent. we are speaking with the treasury secretary a little bit later today. i will let you get to that press conference, that is tyler kendall with the readout of the meeting between ukraine's zelenskyy. for more on this, nick wadhams joins us now. speak to the broader implications of the tensions in that meeting today. nick: the big question is what happens next. they are supposed to move into a signing ceremony to pin down this critical minerals deal. a lot of questions about that one. are they actually going to do it? you saw the hostility that has been beneath the surface essentially a route into view

with the lecturing from the u.s. vice president, from president trump, also from zelenskyy. the big question is where to the two sides go from here and does this critical minerals deal come off the table? sonali: there were some large statements made in that meeting, particularly when president trump said to president zelenskyy that he's gambling with world war iii. does that signal things could get more tense before they get better? nick: yeah. the question is whether they will get better at all. we know president trump has these views about zelenskyy. the question is could he essentially get over them? it feels that he has in large parts not said an unkind word about president vladimir putin. could he persuade the u.s.? you have jd vance and president trump both being so down and so frankly openly hostile,

it's not clear how much they will get from the u.s.. sonali: what do you expect when it comes to european allies and the broader nato alliance? do you expect them to react to what was brought up? nick: i think it's going to underscore the urgency for those countries and the feeling they will help ukraine. the big question is what they offer, security guarantees to ukraine in the absence of the u.s. doing so. what you will see is an acknowledgment from them. look how hostile it is. if anybody's going to be ukraine --defending ukraine, it will be us. sonali: obviously the world is watching, when you see a conversation as such occurred, do you think the point was to get europe more involved? nick: i wouldn't think there is that much of a chess game happening here. what we saw is really what it

is. there is a lot of suspicion from the u.s. and particularly from trump and his vice president that ukraine has gotten a really good deal and the u.s. has gotten a rod deal. they couldn't help themselves in that situation. as you saw, the u.s. vice president, who hasn't been to the front lines accusing his predecessors of failure of diplomacy. it is vladimir putin who hasn't spoke -- cap to the diplomatic agreements they have signed. sonali: what do you expect out of the readout from the president in the wake of the conversation at the white house? nick: that's really going to be the big question now. will this suffer the critical minerals deal? i suspect it will be a strongly worded readout that will tell us if the two sides believe there is room to grow.

sonali: we have to leave it there. we are heading up against a heartbreak. nick wadhams on the heels of a very tense conversation. quick check on the markets. of course we have been looking at and s&p 500 that was in the green, now in the red. ♪ you think those phone guys will ever figure out how to keep 5g home internet from slowing down during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy birthday. happy birthday... -it's... ...to her. -no, it's me. have your cake and eat it, too. don't settle for t-mobile or verizon 5g home internet. get super fast xfinity internet you don't have to share. forty's going to be my year.

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live from washington d.c. ♪ joe: the meeting develops into an argument. welcome to the fastest show in politics. as president trump and ukrainian president zelenskyy meet in the white house to talk about ending the war in ukraine with intentions to sentimental deal, but talks fell apart in front of the cameras and microphones a short time ago. his schedule back 11 less educated lands in washington. thanks for joining us. kailey, we've never seen anything like that. unclear what happens now. these two were supposed to have a news conference in a couple of seconds. kailey: i guess we will see if that goes forward and if this deal is able to go forward at all after a meeting which, frankly, lacked the dignity you would usually see one heads of state are meeting at the white house.