The green light being given to impost a 25 percent tariff on $50 billion worth of goods imported from China. They will apply to 1,102 products and be divided into two parts - the first set will be on 818 product lines, or about $34 billion and customs agents will begin collecting the duties on July 6th. The second set will apply to the remaining $16 billion of imports, or 284 product lines, and go into effect at a later date. Overnight, the soybean market was down 13 - 16 cents per bushel on the news, in some cases reaching new contract lows.