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

Asian shares were mixed Thursday after most U.S. stocks slipped, as doubts rose on Wall Street about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September. Japan’s Nikkei 225 rose 0.

U.S. President Donald Trump said on Wednesday the U.S. would charge a 15% tariff on imports from South Korea as part of an agreement to avoid even higher levies.