China imposing new tariffs on U. S. meat, fruit

BEIJING— China said it’s rolling out new tariffs on meat, fruit and other products from the United States as retaliation against taxes approved by U. S. President Donald Trump on imported steel and aluminum.

The Chinese finance ministry said in a statement that the new tariffs begin Monday. The announcement follows warnings Chinese officials have made for several weeks in an escalating trade dispute between the world’s two largest economies.

China’s Customs Tariff Commission is increasing the tariff rate on pork products and aluminum scrap by 25 percent. It’s also imposing a new 15 percent tariff on 120 other imported U. S. commodities, from almonds to apples and berries.

The White House didn’t respond to a message seeking comment.

The tariffs mirror Trump’s 25 percent charge on imported steel and 15 percent hike on aluminum. Trump has also announced separate plans to slap tariffs on nearly $ 50 billion in Chinese imports. Trump’s planned tariffs are partly aimed at punishing Beijing for allegedly stealing American technology and pressuring U. S. companies to hand it over.

But the Chinese response could end up hurting American ranchers and farmers, many of whom are from regions that voted for Trump in 2016.

Exxon’s Liberia deal questioned

DALLAS— An anti- corruption group said Exxon Mobil bought rights to drill in an area off the coast ofWest Africa despite its concerns about possible corruption.

GlobalWitness said last week that Exxon knew that the oil field, called Block 13, had been previously awarded to another company through bribery.

Exxon said that all payments went to verified Liberian government accounts. A spokesman said the company is confident that the deal complied with Liberian and international anti- corruption laws. Financial market statistics from Thursday’s close. Most world markets were closed on Good Friday.