President Trump also said that newly elected South Korean President Lee Jae-myung is expected to visit the White House in August.

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.

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