Donald Trump appears to have won his trade standoff with Volodymyr Zelensky, as the Ukrainian president is set to give in and sign a deal giving the U.S. access to deposits of critical minerals.

The deal was seen as crucial for satisfying Washington's demands for a peace settlement between Ukraine and Russia to end their three-year long war. 

It's a staggering surrender from Zelensky, who had said just days earlier: 'I defend Ukraine, I can't sell our country.' 

Zelensky said on Friday that officials from his country and the U.S. were working on concluding an economic deal to ensure that the accord worked and was fair to Kyiv. 

'We're signing an agreement, hopefully in the next fairly short period of time,' Trump told reporters in the Oval Office when asked about a deal for Ukraine's minerals.

The Wall Street Journal later cited several people familiar with the matter that the deal is close and will be signed within hours.