President Trump’s trade war with China escalated this week, as China announced tariff increases on over $60 billion worth of goods in retaliation for new U.S. tariffs. …Wood exports to China dropped by $700 million, or 42 percent. Industries affected included firms that buy logs of hardwoods like walnut, maple and cherry and turn them into boards for furniture and flooring. Before the tariffs, about 1 in 4 of these boards went to China, said Michael Snow, executive director of the American Hardwood Export Council. Snow said his industry is looking for alternative markets. “But at the end of the day, there really are no other markets out there that can absorb anywhere near the volume that China was taking in,” Snow said. He added, “If this continues for several months, I think there’s no question that we’ll see mill closures and layoffs in the industry.”