Seoul (Reuters) -Shares of South Korean automakers Hyundai Motor and Kia Corp fell on Thursday after U.S. President Donald Trump said the U.S. will charge a 15% tariff on imports from South Korea, including autos, as part of a trade deal. Hyundai Motor shares were down 2% and Kia Corp stock lost 3.3%.

The agreement comes after other American allies, like Japan, clinched their own deals to partly moderate President Trump’s tariff threats.

South Korea pledged to invest $350 billion in the U.S., as well as to lower tariff barriers, as part of the deal.