WASHINGTON (AP) — Donald Trump, the real estate developer turned commander in chief, is laying bare his style of diplomacy in the early weeks of his new term: It’s a whole lot like a high-stakes business deal, and his No. 1 goal is to come out of the transaction on top.

The tactics are clear in his brewing trade war with Canada and Mexico, in his approach to Russia’s war on Ukraine and in his selection of the first country he will visit in his second term.

“President Trump approaches diplomacy and engages in a very transactional manner, with economics as the foundation and driving force behind international affairs,” retired Lt. Gen. Keith Kellogg, the president’s special envoy to Ukraine and Russia, explained at an event in Washington this past week.

For Trump, it’s about leverage, not friendship; dollars as much as values; and hard power versus soft.

It’s not just a matter of negotiating style. At stake is the post-World War II international order as Trump’s actions raise doubts about American leadership around the globe.

He’s shaping a foreign policy that’s more inward looking and conscious of the bottom line, dismissing American soft-power levers such as the U.S. Agency for International Development as dubious and riddled by waste and suggesting that the United States might not defend fellow NATO members that aren’t meeting defense spending benchmarks set by the alliance.

Politics and presidents to a certain degree are all transactional. But Trump, who helped make himself a household name by burnishing an image as an intrepid real estate dealmaker, is taking it to another level.

Money talks

Edward Frantz, a University of Indianapolis historian who has studied the American presidency, said Trump’s “ledger” approach might not be the most practical way to conduct diplomacy.

Frantz observed that Trump, 78, a baby boomer and football fan, seems inspired in his foreign policymaking by the ethos of legendary pro football coach Vince Lombardi, who famously said, “Winning isn’t everything. It’s the only thing.”

“But diplomacy, especially in a more complicated world, might be more like soccer,” Frantz said. “Sometimes you just need a tie. Sometimes you need to just survive and move on.”

Trump on Thursday told reporters that he has decided to make Saudi Arabia the first overseas visit of his new term because the oil-rich kingdom has agreed to make a huge investment in the United States over the next four years.

“They’ve gotten richer, we’ve all gotten older. So I said, ‘I’ll go if you pay a trillion dollars, $1 trillion to American companies,'” Trump said. He also made the kingdom his first overseas stop during his first White House term after the Saudis promised $450 billion in U.S. investment.

Trump acknowledged that the United Kingdom, one of America’s oldest allies, has traditionally been the first stop for U.S. presidents. But money talks.

Who has ‘the cards’

matters to Trump

In his dealings with Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin, Trump has highly focused on who has the leverage.

Putin has “the cards” and Zelenskyy does not, Trump has said repeatedly.

Zelenskyy appeared to be making some strides in assuaging Trump after their recent rocky meeting in the Oval Office ended with Trump and Vice President JD Vance criticizing the Ukrainian leader for what they said was insufficient gratitude for the tens of billions of dollars in U.S. assistance provided in the three years since Russia invaded.

Trump departs from years of U.S. skepticism toward Russia

Trump’s push on Zelenskyy — and pivot toward Moscow — marks a significant departure from traditional U.S. foreign policy toward Russia since the Cold War.

Others before Trump, including Presidents Bill Clinton, George W. Bush and Barack Obama, have tried resets with Russia, but perhaps never at a time as fraught. Deep skepticism toward Moscow, even in the best moments in the relationship, has been the standard operating posture in both Republican and Democratic administrations.

But Trump, who ran on a promise to quickly end the war, has veered from Democratic President Joe Biden’s approach of making no major decision that could impact Ukraine without Kyiv’s involvement.

At the same time, the new Republican administration has taken steps toward a more cooperative line with Putin, for whom the American president has long shown admiration.

Keeping an eye on the ledger

Kellogg, who also served in Trump’s first White House, recalled seeing Trump’s “transactional diplomacy approach” early in the first term. Kellogg said that the president’s first question in meetings with foreign leaders was often the same.

“As I found the very first time we were in the Cabinet room when a foreign official came in, the comment was, ‘What is the trade imbalance between our two nations?”’ Kellogg recalled, speaking at the Council on Foreign Relations event.

The trade ledger has been top of mind for Trump as he argues that for too long America has been played by friends and adversaries, including neighbors Canada and Mexico.