Thailand's trade talks with the United States are expected to be concluded before August 1, and U.S. tariffs on the country are not expected to be as high as 36%, its finance minister said on Tuesday.

A Cambodian government official has sung praise to U.S. President Donald Trump for "bringing about peace" after Thailand and Cambodia agreed to a cease-fire starting at midnight local time on Monday.

The ceasefire agreement brokered in Putrajaya was a win for Malaysia premier Anwar Ibrahim and ASEAN, experts say. With clashes reportedly erupting early Tuesday morning, however, observation teams are urgently needed on the ground.

Thailand's military said that there had been attacks by Cambodian troops in at least five locations early on Tuesday, violating the ceasefire.

Thailand and Cambodia traded accusations of fresh attacks Saturday as deadly border clashes entered a third day and international pressure mounted for a ceasefire. The fighting has killed at least 33 people and displaced more than 168,

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 United States was Thailand's largest export market last year, accounting for 18.3% of total shipments, or $54.96 billion. Washington has put its deficit with Thailand at $45.6 billion

Thailand has accused Cambodia of violating a ceasefire agreement reached on Monday after days of deadly clashes along their disputed border, but negotiations between the two sides will continue.