Health and Healthcare
Food Makers Ask FDA For More Regulation: Target China
Published:
The Grocery Manufacturers Association is going to ask the government to strengthen regulation of food imports. The group, which includes Kraft (KFT) and Coca-Cola (KO) wants "beef up federal oversight of imported food and ingredients," according to The Wall Street Journal.
While the group wants more reviews of farms and packing houses in the US, the obvious target for the request is China. GMA is "also seeking to increase the FDA’s funding next year by $200 million so its inspectors can travel overseas to examine plants."
Some industry experts are surprised at the request for more review and regulation. But, it would appear that they are missing the point. By asking for broad regulation, GMA is expecting the FDA to catch tainted Chinese imports. That in turn makes food produced in the US much more attractive to consumers, which will tend to push up prices.
The GMA is no fool. It wants the US government to spear head a movement to push out Chinese competition to domestic producers.
Douglas A. McIntyre
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
