Trump’s New 25% Tariff on India Sends the Crypto Market Down 4%
- Trump criticized India for having some of the highest trade barriers globally and being a big buyer of Russian goods, which he framed as supporting Moscow’s war efforts
- India’s commerce ministry did not provide an immediate comment about the tariff announcement so far
- These new tariffs are poised to affect India’s merchandise exports to the US, which were valued at approximately $87 billion in 2024
Today, the US President Donald Trump announced via Truth Social that effective August 1, India will face a 25% tariff on its exports to the US. Additionally, India will incur an unspecified penalty for its purchase of Russian military equipment and energy.
Trump criticized India for having some of the highest trade barriers globally and being a big buyer of Russian goods, which he framed as supporting Moscow’s war efforts. The tariffs revive earlier threats from April and were announced amid stalled trade talks between the two countries.
India’s commerce ministry did not provide an immediate comment about the tariff announcement so far.
On Truth Social, Trump wrote: “Remember, while India is our friend, we have, over the years, done relatively little busi…
The post Trump’s New 25% Tariff on India Sends the Crypto Market Down 4% appeared first on Coin Edition.
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Trump’s New 25% Tariff on India Sends the Crypto Market Down 4%
- Trump criticized India for having some of the highest trade barriers globally and being a big buyer of Russian goods, which he framed as supporting Moscow’s war efforts
- India’s commerce ministry did not provide an immediate comment about the tariff announcement so far
- These new tariffs are poised to affect India’s merchandise exports to the US, which were valued at approximately $87 billion in 2024
Today, the US President Donald Trump announced via Truth Social that effective August 1, India will face a 25% tariff on its exports to the US. Additionally, India will incur an unspecified penalty for its purchase of Russian military equipment and energy.
Trump criticized India for having some of the highest trade barriers globally and being a big buyer of Russian goods, which he framed as supporting Moscow’s war efforts. The tariffs revive earlier threats from April and were announced amid stalled trade talks between the two countries.
India’s commerce ministry did not provide an immediate comment about the tariff announcement so far.
On Truth Social, Trump wrote: “Remember, while India is our friend, we have, over the years, done relatively little busi…
The post Trump’s New 25% Tariff on India Sends the Crypto Market Down 4% appeared first on Coin Edition.
Read More
Fed Holds Rates, Trump Strikes With New Tariffs as Bitcoin and Alts React: Your Weekly Crypto Recap