China and the United States have agreed to lower tariffs on goods from each other’s countries for 90 days, offering a temporary reprieve in a trade war that threatens to cause a global recession and deepen a widening rift between the world’s two largest economies, Reuters reports.

U.S. tariffs on Chinese goods will be reduced from 145 to 30%. China said it would cut its blanket tariffs from 125 to 10%.

Heralded by the White House as a significant deal, the latest development in the trade war did nothing to help the fastener industry.

“Many of our valued Chinese partners have been emailing us ‘the tariff war is over’ — only it’s not,” Interstate Screw Corp. posted on LinkedIn. “The tariff war is not over for our industry; not by a long-shot.”

Master distributor Huyett called the pause a “non-starter” for industrial companies.

There have been no “meaningful changes to the tariffs affecting iron, steel, and their derivatives—including fasteners. In fact, tariffs on fasteners from China have increased by 45% since the beginning of the year, and imports from Taiwan, Vietnam, India, Mexico, and Canada face a 25% duty.”

The tariff rate for most fasteners from China is 70%, including 20% “fentanyl” tariffs, a 25% tariff on steel/aluminum, and a 25% tariff from President Donald Trump’s first term.

“The bottom line is that tariffs are likely here to stay unless there is a significant policy shift by the current administration,” Huyett concluded.