#BTCRebound U.S. President Donald Trump has exempted a range of technology products from tariffs, such as smartphones, chips, computers, and select electronic products, providing a much-needed reprieve for the tech industry amid trade pressures.
Executives in the tech sector and investors feared the impact of widespread tariffs affecting technology products at multiple stages of the supply chain.
According to the U.S. Customs and Border Protection Office, storage cards, modems, diodes, semiconductors, and other electronic products were also excluded from ongoing trade tariffs.
"Large-cap tech companies will ultimately come out ahead when all is said and done," stated Kobeissi's letter in a post on X on April 12.
Tariff relief will ease the pressure on technology stocks, which were among the biggest victims of the trade war. Cryptocurrency markets are correlated with technology values and could also rebound as risk appetite increases due to positive headlines about the trade war.
Following the news of tariff exemptions, the price of Bitcoin BTC 74,198 € surpassed $85,000 on April 12, a sign that cryptocurrency markets are already responding to the latest macroeconomic development.
