March 24, 2018 / 3:06 AM / 4 months ago

China should target U.S. soybeans, says former finance minister

BEIJING, March 24 (Reuters) - China’s commerce ministry’s response to the latest U.S trade measures is a bit too weak, and should target U.S. soybeans, said Lou Jiwei, a former Chinese finance minister.

Lou, currently chairman of the National Council for Social Security Fund (NCSSF), was speaking at the annual China Development Forum in Beijing on Saturday.

The commerce ministry has declared plans to levy additional duties on up to $3 billion of U.S. imports including fruit and wine in response to U.S. import tariffs on steel and aluminium.

Reporting by Kevin Yao Writing by Ryan Woo Editing by Richard Pullin

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