Tyson Foods will pay $85 million to settle a consumer lawsuit accusing the company of conspiring with competitors to inflate pork prices. This settlement, which is the largest in over seven years of antitrust litigation, will bring consumers’ total recovery to $208 million. The preliminary agreement requires court approval and marks Tyson as the last publicly traded company to settle in the case. The alleged price-fixing conspiracy, involving multiple companies, reportedly occurred from 2009 to 2018.
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Amidst escalating domestic fuel shortages, Russia is preparing to import gasoline from Asian countries like China, South Korea, and Singapore. These shortages are primarily caused by Ukrainian drone and missile strikes that have crippled almost 40% of Russia’s refining capacity. To facilitate imports, the government plans to lift import duties, provide subsidies, and potentially boost imports from Belarus. Further, the government is considering lifting a ban on a controversial octane-boosting additive, despite safety concerns, to increase fuel production.
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The United States has ended the de minimis rule, which previously allowed low-value imported goods to enter duty-free. As of a specific time, all imported goods, regardless of value, are now subject to tariffs ranging from 10% to 50%, potentially impacting prices for consumers. Delivery services globally had already begun making adjustments, with some suspending services while others anticipate delays. While this change could increase costs for some shoppers, it could also level the playing field for some American small businesses by reducing the competitive advantage of foreign e-commerce giants who had benefited from the exemption.
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Canada’s recent suspension of pork imports from the largest US processing plant, Smithfield, has sparked a flurry of reactions, highlighting complex trade relations and food safety concerns. The suspension, according to the U.S. Department of Agriculture, aligns with standard Canadian protocols triggered by three noncompliance issues within a six-month period. This seemingly straightforward explanation, however, belies a deeper narrative infused with political tensions, economic considerations, and anxieties about food quality.
Many commentators celebrate the suspension, viewing it as a positive step towards prioritizing domestic food production and bolstering Canadian standards. The perception that Canadian pork surpasses its American counterpart in quality, free from excessive pesticides and PFAS chemicals, is a recurring theme.… Continue reading
John Q. Hosedrinker 
Matt Underwood