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.

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

Thailand has submitted a revised trade proposal to the United States in a last-ditch effort to avoid steep tariffs, Finance Minister Pichai Chunhavajira confirmed on Monday. The move comes ahead of a looming July