U.S. President Donald Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs take effect, but did not believe that would be necessary.

The president said he and Chinese President Xi Jinping still need to sign off on a preliminary deal, even though he called it "done."

Canadian Prime Minister Mark Carney said he hopes to secure a commercial and security agreement soon with US President Donald Trump, though he tamped down expectations that a deal will be ready in time for the Group of Seven summit in a few days.

President Trump's officials have repeatedly said that they are nearing trade deals with a number of countries, without releasing specifics of most of them.

The U.S. and China have agreed on a "framework" to resolve some disputes that threatened to derail fragile talks between the two countries.

The CPI gives the latest update on consumer inflation, President Trump’s trade team is back from talks with China and Tesla CEO Elon Musk sets the stage for the debut of the long awaited robotaxis. FOX Business is providing real-time updates on the markets,

Oil prices softened in Asian trade on Wednesday as markets assessed the outcome of U.S.-China trade talks, yet to be reviewed by President Donald Trump, with weak oil demand from China and OPEC+ production increases weighing on the market.