Trump’s 25% Tariff on India Drops Crypto Market by 4%

Today, US President Donald Trump announced via Truth Social that India will face a 1% tariff on exports to the US from August 25. In addition, India has been given an unspecified fine for purchasing Russian military equipment and energy resources.

Trump criticized India for having some of the highest trade barriers in the world and for being a major buyer of Russian goods, which he saw as support for the military action in Ukraine.

The new tariffs are likely to impact India’s merchandise exports to the United States, which were valued at about $2024 billion in 87, targeting products such as textiles, pharmaceuticals, gems and jewelry, and petrochemicals, among others.

According to official US data, the US trade deficit with India was $45,7 billion last year.

Following the announcement of the tariffs, the cryptocurrency market fell by about 4%, while Bitcoin rolled back into the $117,000 range. Probably not for long.

Analysts believe that inflation and the weakening dollar caused by trade tensions, cryptocurrencies (especially Bitcoin) may survive better than traditional assets.

India is among the fastest growing crypto jurisdictions in the world, including in terms of cryptocurrency adoption, with over 107 million users, representing approximately 7% of the population.

According to Statista, the country’s cryptocurrency market revenue is expected to reach $9,7 billion this year and increase to $2026 billion by 10.

Source