Bitcoin steadies at $84K as US and China weigh technology tariffs

Bitcoin (CRYPTO:BTC) remains stable above $84,000 as mixed signals from the U.S. and China on semiconductor tariffs create uncertainty in global markets.

The White House recently announced a temporary exemption for items like smartphones and semiconductors from 125% tariffs on Chinese imports.

However, President Trump clarified that these exemptions might shift to other tariff categories next week, leaving room for flexibility.

“Markets rebounded strongly after exemptions were announced, but volatility is expected to persist,” stated Commerce Secretary Howard Lutnick, emphasising the temporary nature of this measure.

Jeff Mei, COO of BTSE, commented on the tariff situation, noting that shifting global supply chains away from China will face challenges.

“Low-end manufacturing may relocate to other Asian countries following trade deals, but this rally appears temporary,” he added.

Meanwhile, China has imposed a 34% tariff on U.S.-origin semiconductors.

Notably, these duties do not apply to chips made in Taiwan, which Beijing considers to be a part of China.

Analysts believe this move might accelerate domestic innovation and restructuring in China’s semiconductor industry.

Taiwan Semiconductor Manufacturing Company (TSMC) is reportedly speeding up construction of a new fabrication facility in Arizona to counter uncertainties in the semiconductor sector.

In East Asia, equity markets showed gains amid tariff developments.

Shanghai’s SSE composite index rose 0.8%, Shenzhen’s tech-heavy SZSE increased 0.9%, and Hong Kong’s Hang Seng surged 2.4%.

In the cryptocurrency sector, Hong Kong’s Bosera HashKey Ether ETF received approval to offer staking services following regulatory guidance from the Securities and Futures Commission.

Despite this development, Ether ETFs have struggled to gain traction.

Bloomberg analyst Eric Balchunas noted that short Ether ETFs have outperformed other crypto funds.

Ether (CRYPTO:ETH) has declined 47% over the past year, contrasting with Bitcoin’s stability and CoinDesk 20’s 14% rise during the same period.

At the time of reporting, the Bitcoin (BTC) price was $84,447.20.