President Donald Trump offered a glimpse into his plans ahead of a historic summit with Russian President Vladimir Putin.Speaking exclusively Friday to Fox News chief political anchor Bret Baier aboard Air Force One, Trump outlined what hes expecting from the meeting, and what would happen if it doesnt go his way."Were going for a meeting with President Putin in Alaska," Trump said while en route to the summit."And I think its going to work out very well and if it doesnt, Im going to head back home real fast," the president said.The talks come as Russias invasion of Ukraine continues to claim lives daily in the third year of the conflict. The summit is being held in Anchorage, Alaska, chosen as a midpoint between Washington and Moscow.This is the first high-level summit between the United States and Russia since the start of the Ukraine war. Its also President Putins first time on U.S. soil in nearly a decade.TRUMP TO HOLD HISTORIC SUMMIT WITH PUTIN IN ALASKA SEEKING AN END TO RUSSIAUKRAINE WARWhen pressed by Baier to confirm his willingness to walk away if the negotiations sour, Trump didnt hesitate.WHAT WE KNOW ABOUT TRUMPS MEETING WITH VLADIMIR PUTIN IN ALASKA"I would walk, yeah," he said.During a separate press gaggle aboard the flight, Trump warned of "very severe" consequences if Russia fails to show progress towards ending the war.He also said additional sanctions would be put in place if the meeting failed to be productive. Still, the president voiced optimism about the outcome."I think were going to do very well," Trump told Baier, before shifting to tout the countrys economic strength.CLICK HERE TO GET THE FOX NEWS APP"Our country is doing very well. Were setting records economically like we never have before, including stock markets at a record high. Were taking in trillions and trillions of dollars with tariffs."Watch the full interview on "Special Report" tonight at 6 p.m. ET on Fox News Channel.