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 aims to reduce its $46 billion trade surplus with the U.S. by 70% within five years, reaching balance in seven to eight years, in its latest attempts to avert Trump's steep 36% levies,

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