President Joe Biden cancels stops in Australia and Papua New Guinea. He will travel to Japan on Thursday to participate in the G7 summit in Hiroshima.

Biden will return to Washington on Sunday to continue economic negotiations. Republicans say a deal could be reached as early as this week on the US debt ceiling.. Treasury Secretary Janet Yellen warns that the government could run out of money to meet its payments on June 1. The lack of an agreement is already beginning to be noticed in the financial markets.