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Jin10 Data, July 24: The U.S. Trade Representative (USTR) issued a notice on the 23rd local time, announcing that, under Article 301 of the Trade Act of 1974, tariffs of 10% to 12.5% would be imposed on dozens of countries and regions under the so-called “forced labor” to replace the global import tariffs set to expire. The new tariffs will take effect on the 24th at 12:00 p.m. Eastern Time (12:00 p.m. Beijing time). The USTR said that as the 10% global tariffs expire, this round will impose tariffs on 60 economies, covering more than 99% of U.S. trade. A senior U.S. official said that the tariff measures related to in-transit goods will take effect at 12:01 a.m. Eastern Time on July 28 (12:01 p.m. Beijing time on July 28).
White House crypto adviser Patrick Witt said he is optimistic about the prospects of the CLARITY Act being passed before August and said he still has confidence in pushing the bill to a vote.