President Biden is shortening his overseas trip next week to focus on the debt ceiling negotiations.

Why it matters: By coming home from Japan on Sunday immediately after the G7 meetings end, Biden will miss the first-ever visit to Papua New Guinea by a U.S. president.

• Australian Prime Minister Anthony Albanese subsequently canceled the Quad meeting in Australia which would have featured the leaders of the U.S., Australia, Japan and India, though he said they planned to all meet on the sidelines of the G7 summit.
• NBC News was first to report on the shortened trip.

Zoom in: The president is on a very short deadline to get a debt ceiling deal finished with House Speaker Kevin McCarthy, who has expressed pessimism about the state of talks.

• Biden and McCarthy met for another round of negotiations on Tuesday, along with Vice President Kamala Harris and other congressional leaders.
• Treasury Secretary Janet Yellen has repeatedly emphasized June 1 as a potential "X-date" when the U.S. would be unable to pay its bills without a debt ceiling increase.

Editor's note: This article has been updated to reflect that Australian Prime Minister Anthony Albanese canceled the Quad meeting.

Go deeper: Listen to the Axios Today podcast, where host Niala Boodhoo and Hans Nichols talk about the latest in the debt ceiling negotiations.