Asian shares dropped as investors awaited progress on trade negotiations between the US and several countries ahead of the July 9 deadline imposed by President Donald Trump.

A regional stock gauge fell 0.4%, with Japanese shares leading the declines. Trump administration officials signaled Aug. 1 as the date for higher levies to kick in and hinted some countries may get more time to negotiate deals. Oil fell 1.2% to $67.49 a barrel as OPEC+ said it will increase production. Treasuries gained slightly as cash trading resumed, with the yield on the 10-year dipping about 2 basis points to 4.33%.