South Korea has reportedly proposed to the United States that the two sides cooperate on a shipbuilding project worth tens of trillions of won, dubbed “Make American Shipbuilding Great Again,” amid last-ditch efforts to avoid Washington’s 25 percent reciprocal tariff.

According to multiple sources on Monday, Minister of Trade, Industry and Energy Kim Jung-kwan put forth the idea on Friday during talks with U.S. Secretary of Commerce Howard Lutnick at the latter’s residence in New York.

The envisioned project, which got its name from U.S. President Donald Trump’s political slogan, “Make America Great Again,” would consist of investments in the U.S. from South Korean shipbuilders and financial support from Seoul in the form of loans and guarantees.

That support would be provided by the Export-Import Bank of Korea and the Korea Trade Insurance Corporation.

Lutnick reportedly expressed satisfaction with the proposed package, and South Korea’s world-leading shipbuilders are expected to provide leverage in the ongoing negotiations as the U.S. ultimately seeks to revive its shipbuilding industry.