India just rolled out a three-year tariff on certain steel products—a move clearly aimed at blocking cheaper imports from flooding the domestic market. Here's why this matters beyond just the steel industry.

Protectionist trade measures like these tend to ripple through macro markets. When countries start erecting trade barriers, it usually signals underlying economic concerns—whether that's domestic industrial pressure or currency instability. These policy shifts reshape how investors think about global risk assets.

For those tracking crypto and Web3 investments, this is worth paying attention to. Macroeconomic policy changes in major economies often precede shifts in capital flows. Trade tensions, tariffs, and protectionism historically correlate with increased volatility in risk-on assets. Investors seeking diversification or hedges often look toward alternative assets during these periods.

India's move also reflects the broader trend of countries tightening control over critical industries. Whether this sticks or escalates into broader trade friction will be something to watch closely.