CHINA will give Malaysia and Vietnam greater access to its markets, President Xi Jinping promised today after the United States increased its tariffs on Chinese goods to 245 per cent in some cases.

In a meeting with Malaysia’s King Ibrahim Iskandar, the Chinese president said: “China welcomes more high-quality agricultural products from Malaysia to enter the Chinese market and encourages Chinese companies to invest and start businesses in Malaysia.” 

He also mentioned further developing co-operation in the fields of green tech and artificial intelligence.

Mr Xi is on a tour of south-east Asia that began with a state visit to Vietnam, before he arrived in the Malaysian capital Kuala Lumpur on Tuesday for a three-day stay. Today, he met Prime Minister Anwar Ibrahim.

Malaysia is home to several Belt and Road Initiative schemes, including a $11.2 billion (around £8.78bn) Chinese railway project. 

China is also Malaysia’s largest trading partner and a top source of foreign direct investment.

In Hanoi, Mr Xi had a meeting with Communist Party general secretary To Lam, as well as the president, prime minister and other senior leaders. 

China and Vietnam signed a series of memorandums on co-operation in supply chains and a joint railway project. Mr Xi also promised greater access for Vietnamese agricultural exports to China, although few details of the agreements were made public.

Meanwhile, Beijing has hit back at claims made on the White House website that imports from China face tariffs of up to 245 per cent.

A fact sheet page said: “China now faces up to a 245 per cent tariff on imports to the US as a result of its retaliatory actions.”

Foreign Ministry spokesman Lin Jian noted that the tariff war had been started by the US, adding that China had taken necessary countermeasures to protect its legitimate rights and interests, as well as to ensure international fairness and justice, which are “completely reasonable and legitimate.”

He repeated Beijing’s position that there were no winners in tariff and trade wars.

“China is not willing to fight [such a war], nor is it afraid of fighting,” Mr Lin said.

“If the US genuinely wants to solve the problem through dialogue and negotiation, it should give up its approach of imposing extreme pressure, stop threatening and blackmailing and engage in dialogue with the Chinese side on the basis of equality, respect and mutual benefit.”