Fitch Solutions Macro Research says red meat could be a target for higher taxes for the U.S. and globally.
Per a Fitch report, the industry is under stiff criticism for their role in driving 25% of climate change, as well as deforestation and animal cruelty.
The tax concept is already trending in Western Europe. But in the U.S. it’s still in beginning brainstorm stage and faces opposition from agriculture groups.
However, higher taxes on red meat might drive food consumers to plant-based protein, poultry, or fish.