Xi Jinping has urged Vietnam to resist “unilateral bullying” and uphold free and open trade, as he begins a high-stakes diplomatic tour of the region’s major export-reliant economies in a bid to position his country as a stable partner in contrast to the United States.

China's President Xi Jinping on Monday called for stronger ties with Vietnam on trade and supply chains amid disruptions caused by U.S. tariffs, as he kicked off a three-nation trip to Southeast Asia in the Vietnamese capital of Hanoi.

President Xi Jinping will meet Vietnam's leaders in Hanoi on Monday as he begins a three-nation trip to Southeast Asia, aiming to cement ties with some of China's closest neighbours amid mounting trade tensions with the United States.

But shares in TSMC, the world's largest contract chipmaker have slipped, after US President Donald Trump said he would announce a tariff rate on imported semiconductors over the next week. He did add however, that there would be flexibility on some companies in the sector.

Several companies have made it clear to U.S. customers that price rises are a result of the Trump administration's tariff agenda.