While U.S. President Donald Trump has talked of victory after reaching a weekend deal with China to reduce the sky-high tariffs levied on each others’ goods, businesses in China are reacting to the temporary deal with a cautious wait and see approach.

The trade war between the world’s two largest economies is escalating as China slapped a 125% tariff on U.S. goods in response to President Donald Trump’s 145% tariff on Chinese products.