The formal signing ceremony for the FSM's new Compact of Free Association with the United States may be postponed.

The event was scheduled for next Monday in Papua New Guinea, but the White House announced today that President Biden will cut short his trip to the Pacific and return to Washington, D.C. earlier than scheduled.

The White House issued a statement saying "President Biden will return to the United States on Sunday, following the completion of the G7 summit, in order to be back for meetings with congressional leaders to ensure that Congress takes action by the deadline to avert default."

It goes on to say that, "the president’s team engaged with the prime minister of Papua New Guinea’s team to inform them as well."

Biden was scheduled to be in the PNG on Monday, where he was also supposed to meet with Federated States of Micronesia President Wesley Simina to formally sign off on a new 20-year Compact of Free Association.

Fsm Presidential Press Secretary Richard Clark said in an email response to KUAM that "the FSM government is presently attempting to determine whether or not the COFA signing is still scheduled to occur in PNG or if it will be delayed to another time and venue."

In a separate response, FSM Consul General for Guam Theresa Filepin said, "the initialing of the agreement took place in Pohnpei on Monday."

Officials for the FSM and the U.S. also signed a memorandum of understanding back in February.

The FSM, along with Palau and the marshall islands are expected to receive up to $6.5 billion in financial assistance from the U.S. in exchange for military and national security access to their waters.