Bitcoin (BTC) remains stable as markets in East Asia commence trading for the week, holding above $84,000. This comes as the White House delivers inconsistent signals regarding tariffs on semiconductor and technology components.
Over the weekend, Commerce Secretary Howard Lutnick stated that the exemption for items such as smartphones, computers, and the associated semiconductors from tariffs is a temporary arrangement.
Later, during a press briefing, President Trump confirmed this, announcing that the tariff rates would be revealed next week, though he mentioned there might be some “flexibility” on the issue.
“The market experienced a notable rebound as popular consumer electronics categories were exempt from the 125% tariffs on China,” said Jeff Mei, COO of BTSE, in a message on Telegram. “Even after Trump suggested they would just shift to a different category of tariffs rather than being fully exempt, the markets retained their gains amid speculation that business leaders may have influenced the administration to reduce some of the highest tariffs.”
Mei further remarked, “We anticipate challenges in rapidly realigning global supply chains away from China. It seems likely that low-end, low-margin production will move to other Asian countries once they establish trade agreements. Nonetheless, we believe this rally is likely to be short-lived, and we expect continued market volatility in the near term.”
In parallel, China has introduced its own tariffs on semiconductors, imposing a 34% tariff on chips of U.S. origin. However, China defines origin based on where the chip is manufactured rather than designed.
As most U.S. chip companies, including AMD and Nvidia, outsource their production to Taiwan—the territory which China claims—these firms would largely be insulated from the new tariffs.
Analysts in China recognize that while these semiconductor tariffs may cause short-term disruptions, they also see them as a chance to promote domestic innovation, localization, and restructuring of supply chains, which could ultimately strengthen China’s semiconductor sector over time.
Reports from local Taiwanese media indicate that TSMC is expediting the development of an additional fabrication plant in Arizona to increase the supply of U.S.-manufactured chips amid ongoing uncertainties within the industry.
In China, stock traders appear to be holding back until the final tariff details are released to determine their next steps.
The Shanghai SSE Composite Index has risen by 0.8%, while Shenzhen’s technology-focused SZSE has gained 0.9%. Hong Kong’s Hang Seng Index is up 2.4%.
In the crypto realm, Hong Kong’s Bosera HashKey Ether exchange-traded fund (ETF) has received approval to offer staking services. This follows guidelines issued by the city’s market regulator, the Securities and Futures Commission, regarding the provision of staking services.
Bloomberg ETF analyst Eric Balchunas pointed out on X that the reception for ether ETFs in the market has been lukewarm. He noted that the best-performing ETFs currently are those shorting ether.
Over the past year, ether has seen a decline of 47%, while the broader CoinDesk 20 index has experienced a rise of 14%.