US President Donald Trump has praised talks held with Russian President Vladimir Putin on the US-proposed ceasefire deal in Ukraine as "good and productive".

The Kremlin said Putin met with U.S. envoy Steve Witkoff to discuss details of the American proposal for a 30-day ceasefire in the war with Ukraine.

Russia’s stalling contrasted with Trump’s rush for a valuable breakthrough as his trade policies set off stock market slumps and cast a cloud over the economy. “I think we’re going to be in very good shape to get it done. We want to get it over with,” Trump said at the Oval Office on Thursday, in an outburst of optimism that jarred with reality.