U.S. Imports of Russian King and Snow Crab Plunge After Ban Announcement
Consumer spending, inflation, rising interest rates, and the U.S. ban on Russian Seafood is changing the shape of the king and snow crab markets. For instance, the Commerce Department reported consumer spending on services such as air travel, hotels, and special occasions has increased now that the pandemic restrictions have eased. This redirected spending away from goods such as food, cars, etc.as well as essential goods like gasoline.
Most of the current U.S inflation is concentrated on goods and it is clear that consumers are worried and...
To Read Full Story Login Below.