Biden Targets Meat Industry To Tackle High Food Costs
The new plan includes tighter regulations for meatpackers, with an assumption the industry has been inflating the nation's food bills. Meanwhile, the Department of Agriculture's new rules for consumer labels on genetically modified food products have gone into effect.
The Wall Street Journal:
Biden Promotes Plan Aimed At Tackling Meat Prices
The Biden administration on Monday outlined tighter regulations for U.S. meatpackers, accusing the industry of inflating Americans’ food bills, as meat companies say they are experiencing persistent supply chain problems and labor shortages as the economy recovers from the pandemic. President Biden’s push to tackle meat prices comes as his administration seeks to ease inflation, which hit a nearly four-decade high in November. Inflation has emerged as a pressing concern for American voters, a Wall Street Journal poll released last month found, and Republicans have been criticizing Mr. Biden over high prices for months. (Thomas and Lucey, 1/3)
Biden: More Competition In Meat Industry Can Ease Food Costs
President Joe Biden met virtually with independent farmers and ranchers Monday to discuss initiatives to reduce food prices by increasing competition within the meat industry, part of a broader effort to show his administration is trying to combat inflation. “Capitalism without competition isn’t capitalism — it’s exploitation,” Biden said. (Boak and Superville, 1/3)
In other food industry news —
The Washington Post:
The USDA’s new labeling for genetically modified foods goes into effect Jan. 1. Here’s what you need to know.
Starting Jan. 1, labels at the grocery store are about to get a makeover on foods that have been genetically modified. The goal was to get rid of the patchwork of different labels for foods and ingredients that have been scientifically tinkered with, according to the U.S. Department of Agriculture. However, the move also puts a greater burden on consumers to do their homework to understand what the labels mean, food advocates say. Foods that previously were labeled as containing “genetically engineered” (GE) ingredients or “genetically modified organisms” (GMOs) will now be labeled as “bioengineered,” or come with a phone number or QR code guiding consumers to more information online. (Reiley, 1/1)