Hundreds of South Koreans gathered in the old city of Gyeongju on Wednesday to protest against “exploitative” financial demands raised by U.S. President Donald Trump.

Holding banners reading “No Trump” and “Trump Out”, demonstrators voiced opposition to Trump’s demand that South Korea invests $350 billion in the United States for a reduction of U.S. tariffs on Korean imports.

Trump on Wednesday met with South Korea’s President Lee Jae Myung in the historical city of Gyeongju, where the annual Asia-Pacific Economic Cooperation (APEC) summit is taking place.

Korean officials say a direct cash injection could destabilize their economy and they’d rather loans and loan guarantees instead. The country would also need a swap line to manage the flow of its currency into the U.S.

“We came to this rally because we believe Trump’s demands are excessively exploitative,” said Kim Inae, who took part in the demonstration Wednesday afternoon.

“We think what he is asking for is far too much. The amount of $350 billion is an enormous sum for South Korea and for our people. On top of that, asking for it all at once, and in cash, feels very exploitative and colonial, which is why we are here to oppose it.”

Another participant, Kim Hwayoung, expressed skepticism that any negotiations could be reached under such terms.

“I don’t think an agreement will be reached,” Kim said. “As long as Trump continues to demand such a high amount, we should not agree. I believe the president should hold the same position. We are here to express the voices of the citizens through this rally.”

For now, South Korea is stuck with a 25% tariff on automobiles, putting automakers such as Hyundai and Kia at a disadvantage against Japanese and European competitors, which face 15%.

AP video by Olivia Zhang