China could target US soybeans in a trade dispute, but Beijing is holding off for now

Beijing could target soybeans to retaliate against any punitive trade action from the US, but it's unlikely to do that just to counter heavy US tariffs on steel and aluminum, experts said. China steel and aluminum products are just a small percentage of total US imports. The world's second largest economy is also unlikely to do that just yet as President Donald Trump's announcement on the steel and aluminum tariffs does not target China alone, said Jake Parker, vice president of China operations at the US-China Business Council.