President Trump today announced future tariffs and investment restrictions on up to sixty billion dollars of imported products from China. The action is being taken as the result of an investigation into Chinese intellectual property practices that have negatively impacted U.S. products.

China said today it will respond to President Donald Trump’s threat to impose tariffs on Chinese goods and restrict Chinese investment in sensitive sectors of the U.S. economy.

China will never sit idly and let its lawful rights and interests be undermined and will surely take all necessary measures to firmly safeguard its legitimate rights and interests,” Foreign Ministry spokeswoman Hua Chunying said at a briefing in Beijing earlier today, before Trump signed documents that could lead to tariffs on $50 billion to $60 billion worth of Chinese goods.

The move is anticipated to negatively impact agriculture as China is expected to retaliate with what are anticipated tariffs on U.S. commodities including sorghum, soy, corn and live hogs.