Xi Jingping hits back at US tariffs

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  Hello, and welcome to World Business Report on the BBC World Service.

• 00:03

  I'm Will Bayne.

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  Thanks for being back with us on the program.

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  Coming up today, two countries who've borne some of the stiffest trade tariffs so far have perhaps been commiserating,

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  but more importantly consolidating their ties.

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  I'm talking about what comes next.

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  So for Vietnam, Seizing Things Visit presents both a risk and an opportunity.

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  Yeah, we'll hear more about President Xi of China's trip to Vietnam in just a moment.

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  We'll hear too why Japan's Sony says it thinks tariffs will mean more expensive PlayStation consoles all around the world in the future.

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  And away from tariffs, a record amount of money was sent back to Pakistan in the form of remittances from expats abroad.

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  But is that boosting Pakistan's economy?

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  It's not boosting it at all.

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  It's basically a fostering consumption and future it can also lead to an increase in inflationary pressures.

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  All that to come here on World Business Report before we leave you in the next half hour.

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  The trade war and tariff war will produce no winner and protectionism will lead nowhere.

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  Those were the words of the Chinese leader Xi Jinping in Vietnamese media Monday

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  as he kicked off a tour of East Asian neighbours,

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  including Cambodia and Malaysia, as well as today's hosts Vietnam,

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  against the backdrop of ostensibly frozen trade between the world's two largest economies.

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  After Beijing responded to U.S. tariffs on imports of Chinese goods of 125% by imposing the same import tax in return on U.S. goods to China.

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