Thailand has submitted a new trade proposal to the United States aimed at averting a threatened 36% tariff on Thai exports set to take effect on August 1. The proposal, led by Finance Minister Pichai Chunhavajira, includes eliminating tariffs on 90% of U.S. imports into Thailand, an increase from an earlier plan covering over 60%. Thailand is optimistic about securing a tariff rate comparable to those imposed on regional neighbors, with negotiations expected to conclude before the August 1 deadline. The U.S. administration under President Donald Trump has indicated openness to reconsidering the tariff if Thailand enhances market access by lowering tariffs and non-tariff barriers. Thailand also plans to allow U.S. pork imports, though volumes will remain below 1% of domestic consumption, and intends to purchase around 100 aircraft from the U.S. Additionally, the Thai Finance Minister projects a 3% GDP growth for Q2 2025 and anticipates economic growth for the year may exceed forecasts. Thailand expects a significant decline in transshipments and plans to import 1 to 2 million tons of U.S. soybeans. The trade talks have been described as starting from a strong position, with the U.S. characterizing Thailand's proposals as "very substantial."