Australian shares are expected to open lower Wednesday following losses on Wall Street as traders assess US President Donald's Trump mixed signals on his trade negotiation strategy.

In macroeconomic news, the Ai Group Industry Index for April is slated for release at 9 am Sydney time.

Wall Street fell overnight, with the Dow Jones Industrial Average dropping 1%, the Nasdaq Composite shedding 0.9%, and the S&P 500 down 0.8%.

Trump said the US does not need to sign deals amid mounting pressure to produce formal agreements with other countries in the wake of his tariff policy, media outlets reported.

"We don't have to sign deals, they have to sign deals with us. They want a piece of our market. We don't want a piece of their market," Trump was quoted as saying by CNBC during a White House meeting with Canadian Prime Minister Mark Carney.

Meanwhile, US goods and services trade deficit widened 14% to a record $140.5 billion in March, data from the Census Bureau and the Bureau of Economic Analysis showed Tuesday.

In company news, Aurizon Holdings (ASX:AZJ) said it plans to cut around 200 full-time equivalent roles as part of a company-wide review of its non-operational cost base, aiming to deliver about AU$50 million in annualized savings from July 1, according to a Tuesday filing with the Australian bourse.

Tabcorp Holdings (ASX:TAH) said its in-play betting in retail application, Tap In-Play, received regulatory approval in New South Wales, according to a Tuesday filing.

Australia's benchmark index was little changed at 8,151.40 on Tuesday.