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, in its latest proposal to avert steep U.S. tariffs, is aiming to boost bilateral trade volumes with the U.S. and reduce its $46 billion trade surplus by 70% within five years, reaching balance in seven to eight years,