No, the food will not last as long, thus, after X amount of time, will taste bad or have gone bad.
The end result will be higher prices for food. It's simple. The same gov't that's banning transfat can't even put up a functional website after spending 300 million dollars. You really think that I believe the gov't has my best interests in mind?
What I am in favor of: Tax incentives or tax breaks for companies that have significantly reduced or completely removed trans fats from their products. What's wrong with that? Push people to do the right thing, don't FORCE them to.