South Korea and the United States are reportedly discussing the idea of Seoul establishing a fund to invest in American projects as part of their ongoing tariff negotiations.

Citing multiple sources familiar with the negotiations, Bloomberg said Wednesday that while the talks remain fluid, Washington is seeking hundreds of billions of dollars in investments from Seoul.

One of the sources said U.S. Secretary of Commerce Howard Lutnick proposed that South Korea invest 400 billion U.S. dollars in America.

Washington and Tokyo recently reached a deal in which Tokyo pledged to invest 550 billion dollars in return for the U.S. cutting its reciprocal tariff from 25 percent to 15 percent, with the same reduced rate applying to automobiles.

Talks between Seoul and Washington are reportedly focused on lowering the rate to 15 percent with a pledge from Seoul to purchase more U.S. goods in key sectors, just as Tokyo agreed to purchase Boeing planes and agriculture products.

Bloomberg said Washington’s deal with Tokyo threatens to give Japanese automakers a competitive advantage if Seoul is unable to reach a similar agreement.