Likely just a temporary pause. This administration won't be around that much longer.
Not only that, but the president can only do what Congress allows him to do. Look for a blue wave next year.
And mind you, the previous cancellation was contested through the courts, and it was found to be illegal. So now the administration did essentially the same, but without citing any reasons (they are "classified").
If this stands, then it is really a death blow to the US industry. It undermines the main pillar of capitalism: protection of property rights.