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๐ Increased sausage demand negative for economy
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As inflation continues to strain household budgets, an uptick in sausage demand highlights consumers' shift towards more affordable food options. According to the Dallas Federal Reserveโs Texas Manufacturing Outlook Survey, dinner sausage sales have seen "modest growth," a trend that historically aligns with economic downturns. Sausage, a cheaper protein alternative, allows consumers to stretch their food budgets amid rising prices. This shift, noted by Bespoke Investment Group, underscores broader economic concerns, as both corporate executives and food manufacturers brace for potential recession and warn of slowing consumer spending.
Canada has announced a 100% tariff on Chinese-made electric vehicles, aligning with U.S. tariffs and echoing similar measures by the European Commission. The move follows discussions between U.S. national security advisor Jake Sullivan and Canadian Prime Minister Justin Trudeau, with Sullivan set to visit Beijing soon. Trudeau also declared a 25% tariff on Chinese steel and aluminum, criticizing China for gaining an unfair market advantage through subsidies. While China has yet to respond, experts anticipate retaliation, potentially targeting Canadian industries like barley and pork.
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