WASHINGTON (TNND) — President Donald Trump announced a new trade agreement with South Korea on Wednesday, calling for 15% tariffs on goods as the Friday deadline approaches for countries to make a deal with the United States or face steeper taxes.

"The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the United States, and selected by myself, as President," Trump wrote on Truth Social. "Additionally, South Korea will purchase $100 Billion Dollars of LNG, or other Energy products and, further, South Korea has agreed to invest a large sum of money for their Investment purposes."

South Korea’s President Lee Jae Myung wrote on Facebook that an agreement was reached despite a tight timeframe and tough conditions. Lee took office in June after his predecessor was ousted for declaring martial law.

“We just overcame a big challenge,” he said. “Today’s deal eliminated uncertainty in the export environment.”

Trump previously warned South Korea of a 25% tariff in letters he sent out before the Aug. 1 deadline.

A 10% base tariff rate began in April for most countries, along with higher additional rates of up to 50%. Trump later delayed the effective date for 10% tariffs until July 9.

However, Trump warned on Wednesday that there would be no extension of the deadline at the end of the week.

“The August first deadline is the August first deadline — It stands strong, and will not be extended. A big day for America!!!” he said on Truth Social.

Trump also signed an executive order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%.

The president previously threatened to impose a 50% tariff on Brazil in a letter he sent earlier this month. He threatened to put the tariff in place if Brazil did not end its trial against Bolsonaro.

Other countries that have managed to make a deal since Trump's Liberation Day on April 2 include the U.K., Vietnam, Indonesia, Philippines, Japan and the European Union. Talks are still ongoing with China.