President Donald Trump said on Wednesday the U.S. will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally.

Under the trade agreement, South Korea will invest $350 billion in key U.S. industries and purchase $100 billion worth of its liquified natural gas

U.S. President Donald Trump on Wednesday announced a trade deal with South Korea, setting a 15% reciprocal tariff on the country’s exports to the U.S. U.S. goods will not be charged a tariff, Trump said.