Trump's new 25% tariff on India has dropped the cryptocurrency market by 4%
The U.S. President announced that starting August 1, India will face a 25% tariff on exports to the U.S.
The new tariffs will affect Indian exports ($87 billion in 2024), including textiles, pharmaceuticals, and petrochemicals.
The crypto market fell by 4% after the news, but analysts believe that cryptocurrencies may strengthen in the long term.
🇮🇳 India is one of the leaders in cryptocurrency adoption with 107 million users (7% of the population).