Thailand remains optimistic about securing a lower tariff rate than the 36% levy announced by President Donald Trump, based on its offer to reduce import tax on most US goods to zero, Finance Minister Pichai Chunhavajira said.

Deputy Prime Minister and Finance Minister Pichai Chunhavajira expressed confidence that Thailand can negotiate a US tariff deal below 36% before the August 1 deadline,

Thailand has submitted a new trade proposal to the United States, offering to cut levies to zero on many U.S. imports in a bid to avoid steep tariff hikes on its own products, the finance minister said on Monday.