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Trump's new 25% tariff on India has caused the cryptocurrency market to drop by 4%.
The President of the United States announced that starting from August 1, India will face a 25 percent tariff on exports to the U.S.
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 in the long term, cryptocurrencies may strengthen.
🇮🇳 India is one of the leaders in cryptocurrency adoption with 107 million users, which is 7% of the population.