US-India Trade Deal Looms: Is a Crypto Market Rally Imminent?

US-India Trade Deal Ahead: How Will It Impact Crypto Market?

A breakthrough in the US-India trade deal could be on the horizon, as both countries are gearing up for a mutual agreement. While Donald Trump is expected to cut tariffs on Indian exports, Narendra Modi is ready to reduce Russian oil imports.

With geopolitical alliances shifting and capital flows poised to adjust, investors are already speculating whether this renewed economic cooperation might ignite a fresh rally in the crypto market.

US-India Trade Deal Sparks Optimism

According to the latest reports, the US-India trade deal is poised to take a new, optimistic turn as the global powers are potentially entering into an agreement on tariffs. As The Kobeissi Letter noted, “the US is likely to announce a trade deal with India ‘soon’ which will include tariff cuts.” In return, India is expected to cut imports of Russian oil.

As part of the potential tax pact, Washington may reduce tariffs on Indian exports to around 15%–16%, down from the current 50%. India may raise its annual import quota for non-GMO corn from the U.S. beyond the current 0.5 million tonnes, despite a 15% duty, and is advocating for a system to reassess tariffs and market access over time.

Donald Trump said Tuesday that Indian Prime Minister Narendra Modi assured him in a call that the country would scale back its imports of Russian oil. Trump noted,

“He’s not going to buy much oil from Russia. He wants to see that war end as much as I do. He wants to see the war end with Russia, Ukraine, and as you know, they’re not going to be buying too much oil.”

How Will the US-India Trade Deal Impact the Crypto Market?

The crypto market is currently under heightened pressure, particularly in the wake of the October 11 crash. While the industry suffered its largest setback after Trump announced a 100% tax on China, the upcoming reduction in Indian tariffs could trigger an opposite reaction.

As of press time, the global crypto market is struggling to regain momentum, reaching $3.65 trillion, down 0.13%. Top cryptocurrencies like Bitcoin, Ethereum, BNB, and XRP are experiencing notable downturns, still hovering at their lower price levels.

However, if Washington and New Delhi take a positive decision, the tariff tensions will ease, which in turn could boost the cryptocurrency prices. Despite the current downturn, the industry could see a renewed hope and enthusiasm as the potential Trump-Modi meeting is poised to make revolutionary changes.