Could soybeans get caught in the crosshairs of a potential U.S.-China trade war?

In an effort to reduce the $375 billion trade deficit the U.S. had with China, U.S. President Trump signed Section 301 Trade action last week, asking to immediately reduce the trade deficit by $100 billion.

Trump promised to impose tariffs on approximately $50 billion worth of Chinese goods and products.

In 2017, the U.S. exported nearly $12.4 billion in soybeans to China, which is nearly 60 percent of all soybean exports.