EE.UU. – Woodworking Network reported that a list of 661 companies that includes retailers, manufacturers, tech companies, and wood industry associations has urged President Trump to quickly negotiate a deal with China to end the additional tariffs. They warned that tariffs will greatly damage the U.S. economy.

“We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the US economy,” the companies said in the letter. “An escalated trade war is not in the country’s best interest, and both sides will lose.”

In the letter, the companies cited a study which found that 25 percent tariffs would eliminate more than 2 million U.S. jobs and add more than USD 2,000 in costs for the average American family of four.

The new tariffs, which increased from 10 percent to 25 percent early May, will affect more than USD 200 billion worth of Chinese exports. Companies on the list included major retailers like Walmart, Costco, and Target, as well as wood associations including The American Home Furnishings Alliance, The Home Furnishings Association, the Hardwood Federation, and the International Wood Products Association.

Other notable signees include Ikea North America, Macy's, the American Society of Interior Designers, and the American Lighting Association.