American Soybean Association president John Heisdorffer called on President Donald Trump Wednesday to retract his “devastating” China tariff plan after the communist state added soybeans to a list of American goods that could potentially be targeted in retaliation.

According to the Associated Press, soybean farmers lost a projected $1.72 billion at market open Wednesday after China proposed slapping percent tariffs on American soybeans and 105 other American products. Cars, planes and whiskey were also included on the list of targeted goods. (RELATED: China Opens Fire On Roughly $50 Billion In US Exports As Trade Spat Heats Up)

“That’s real money lost for farmers,” Heisdorffer said of the losses. “It is entirely preventable.”

Heisdorffer offered to meet with Trump administration officials to discuss potential courses of action that don’t negatively impact soybean farmers.

Trump showed no signs of slowing the trade war following China’s announcement, tweeting Wednesday morning, “when you’re already $500 billion DOWN, you can’t lose!”

We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue! — Donald J. Trump (@realDonaldTrump) April 4, 2018

When you’re already $500 Billion DOWN, you can’t lose! — Donald J. Trump (@realDonaldTrump) April 4, 2018

Trump has proposed enacting 25 percent tariffs on roughly 1,300 products his administration says “benefit from Chinese industrial policies” at the expense of American businesses and workers. (RELATED: Trump’s Trade Tariffs Target Ambitious Chinese Plan To Dominate Strategic Industries)

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