President Trump began his first cabinet meeting of his second term this morning by announcing that Volodymyr Zelensky, the Ukrainian leader, would visit Washington later this week to finalize a deal to give the U.S. a share of his country’s mineral revenues. However, Trump insisted that he would not provide security guarantees in return — rebuffing Zelensky’s central demand.

A draft of the minerals agreement obtained by The Times included new language that stated that the U.S. “supports Ukraine’s effort to obtain security guarantees needed to establish lasting peace.” But, Trump said: “I’m not going to provide security guarantees beyond very much,” adding that “we’re going to have Europe do that.”

Trump’s comments were just one portion of a wide-ranging meeting in which he sought to frame his first month of his term as a sweeping success. He also praised Elon Musk, who declared at the meeting that “America will go bankrupt” without his team’s aggressive efforts to reduce the size of the federal government.

Trump also touted his plans to balance the federal budget (he said “we’ll be very close,” despite plans to add to the deficit), promoted his idea for a “gold card” visa (which, for a $5 million fee, could lead to permanent residency) and suggested that he had picked Dan Caine as his next chairman of the Joint Chiefs of Staff, in part, because of his nickname (“Razin”).

For more: Our diplomatic correspondent Edward Wong explained how both Trump and Joe Biden made minerals a core aspect of U.S. foreign policy.