Wednesday, China issued a $50 billion list of U.S. goods including soybeans for possible tariff hikes in an escalating technology dispute with Washington. American Soybean Association President John Heisdorffer, an Iowa grower says the announcement comes as a great disappointment and he’s hoping negotiators can keep this from actually being implemented.

He says the one positive with commodity markets lately had been soybeans but now that has changed dramatically and the impact of the announcement will lead to prices for other commodities dropping.

Heisdorffer says China has been a major customer of U.S. soybeans and now they will likely seek other suppliers for their needs.

The tariffs announced by the Chinese are on 106 commodities including soybeans, automobiles and chemical products. Earlier tariffs were announced on U.S. pork and ethanol.