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 is making a last-ditch effort to avert a punitive 36% export levy threatened by the Trump administration with offers of greater market access for US farm and industrial goods, along with increased purchases of energy and Boeing jets.

Thailand finance minister Pichai said he was confident that the United States would be satisfied with the new proposal.