The US set a 19% levy on imports from Thailand and Cambodia, lower than the 36% they originally faced, after President Donald Trump threatened to block trade deals with them unless they ended a deadly border clash.

Senior officials from both countries said they were still waiting to hear final details on the deals after comments by the U.S. commerce secretary, Howard Lutnick.

"We have small margins," said Suparp. He said they could still manage with tariffs up to 20% or even 25% by cutting costs. When he spoke to the BBC, before the deal was announced, he said the uncertainty was the biggest challenge: "Please - to our government, just get the deal, so we can plan our business."

Thailand is close to an agreement with the US to lower a threatened 36% tariff on its exports ahead of the Aug. 1 deadline, according to Finance Minister Pichai Chunhavajira, who expects trade talks to conclude within days.

The Thai and Cambodian tariffs were announced along with updated rates for 65 other countries, including punitive 40 percent tariffs on Laos and Myanmar.

US PRESIDENT Donald Trump will keep minimum global tariff rates at 10 per cent, resisting prior suggestions he could raise the floor to 15 per cent or higher, according to a White House statement on Thursday.

Bangkok and Phnom Penh welcomed on Friday the 19 percent trade tariff imposed by US President Donald Trump, a government spokesman said. Both countries

Asked via text message to confirm Cambodia's plan to nominate Trump for the prize, Sun Chanthol responded, "Yes."

Cambodia will nominate President Donald Trump for the Nobel Peace Prize for his involvement in a ceasefire that ended the country's fighting with Thailand.

Cambodia floated plans Friday to nominate President Trump for the Nobel Peace Prize for working to broker a ceasefire agreement that helped the country end its border war with Thailand. “He should get the Nobel,