BANGKOK, Thailand: Thailand is adjusting its trade strategy in response to unexpectedly steep U.S. tariffs, moving to soften the economic impact while preparing for formal negotiations.

Thailand will increase U.S. imports, lower some of the higher taxes on American goods, and address non-tariff barriers, the finance minister said on Tuesday, as the government seeks to negotiate a better deal on new U.S. tariffs.

The 36 percent tariff imposed on Southeast Asia's second-largest economy is among the higher rates imposed by the administration of U.S. President Donald Trump, greater than officials had anticipated. A 90-day pause announced by U.S. President Donald Trump on Wednesday may allow for negotiations to bring that back down.

Thailand however was in no rush to travel to the United States for negotiations because proposals needed time to prepare, said Pichai Chunhavajira, who will head the Thai negotiations.

He said Thailand would seek to balance trade with the United States within 10 years.

Prime Minister Paetongtarn Shinawatra confirmed a meeting between Thailand and the United States Trade Representative this week but gave no further details.

She said Thai exporters should also seek new markets to diversify risks, and the government would provide relief measures for businesses hit by the tariffs.

The tariffs could knock a percentage point from growth this year in the export-reliant country, Pichai said.

Before the steep tariff was announced, the government was targeting growth of three percent this year, after last year's 2.5 percent expansion, a rate far adrift of most of its regional peers.

The government has said it would import more U.S. goods, such as corn, soybeans, crude, ethane, liquefied natural gas, autos and electronics, and aircraft, and would review rules on imports of U.S. pork.

According to government data, Thailand had a trade surplus with the United States of $35.4 billion last year, while Washington has put its deficit with Thailand at $45.6 billion.

Thailand's benchmark stock index fell as much as 6.1 percent on April 8, the first trading day since the tariffs announcement.

The Stock Exchange of Thailand announced temporary floor and ceiling limits on stock movement to trading to 15 percent from 30 percent and a ban on short selling to reduce volatility.