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I happen to think this is probably a good change since added sugar in lots of products has a great deal to do with the very serious obesity crisis. I don't have a problem with knowing what I am about to eat or feed to my kids.

Is there a difference between inherent sugar and added sugar in a product?

Technically yes, since added sugar is usually sucrose and inherent sugar might be fructose, lactose, maltose, etc.

Also knowledge that sugar was added to a product helps you identify sources of possibly unneeded extra sugar.

(This is going to cost multi-millions for food companies to run testing and change their labels)

Presumably they already know how much added sugar their products contain since they put it there. It has been a while since nutritional labels have changed and they could be more informative.