Bitcoin Shows Little Movement as White House Issues Contradictory Stances on Technology Tariffs

Bitcoin (BTC) remains stable above $84K as East Asian markets open, with Chinese stock indices seeing notable gains. However, the broader market is reacting to conflicting statements from the White House regarding tariffs on technology goods, especially semiconductors.

Over the weekend, Commerce Secretary Howard Lutnick clarified that the U.S. administration’s decision to temporarily exempt products like smartphones, computers, and semiconductors from tariffs was not permanent. President Trump later confirmed this in a press briefing, stating that the final tariff rates would be disclosed next week, with some “flexibility” on the matter.

“Bitcoin’s price bounced back as key consumer electronics were excluded from the steep 125% tariffs on China,” said Jeff Mei, COO of BTSE, in a Telegram message to CoinDesk. “Despite Trump indicating that these products would be placed under another tariff category instead of being fully exempt, markets maintained their gains, fueled by speculation that business leaders influenced the White House to reconsider some of the toughest tariffs.”

Mei also emphasized that, “Shifting global supply chains away from China will take time, particularly for low-margin manufacturing. These industries are likely to relocate to other Asian countries once trade deals are concluded. Nevertheless, we expect the rally to be short-lived, and market volatility to persist in the near term.”

Meanwhile, China has retaliated with its own tariffs, imposing a 34% duty on U.S.-origin semiconductors. However, due to China’s stance on Taiwan being part of its territory, and U.S. chip manufacturers like AMD and Nvidia relying on Taiwan’s TSMC for production, these companies are largely exempt from the new tariffs.

Chinese analysts are acknowledging that the semiconductor tariffs will create temporary disruptions, but many also see them as an opportunity for China to accelerate domestic innovation and restructuring in its semiconductor industry—potentially benefiting China in the long run.

Reports from Taiwan indicate that TSMC is fast-tracking the construction of a new semiconductor fab in Arizona to ensure a reliable supply of U.S.-made chips as global trade uncertainty clouds the sector.

On the equity side, traders in China appear to be waiting for more details on the tariff situation before making significant moves. Shanghai’s SSE Composite Index is up by 0.8%, Shenzhen’s SZSE has risen by 0.9%, and Hong Kong’s Hang Seng Index is up 2.4%.

In the cryptocurrency market, Hong Kong’s Bosera HashKey Ether Exchange-Traded Fund (ETF) has been approved to offer staking services following recent guidance from the Securities and Futures Commission.

Despite this progress, ether ETFs have faced difficulties in the broader market. Bloomberg ETF analyst Eric Balchunas pointed out on X that short ether ETFs have outperformed, while ether itself has dropped by 47% in the past year, according to CoinDesk data. In contrast, the CoinDesk 20 index has seen a 14% increase over the same period.