Hinson Helps Introduce Legislation to Combat Foreign Ownership of U.S. Farmland
“America's adversaries, including China, continue to buy U.S. farmland at an alarming rate. China doesn’t even allow its citizens to own land, yet China has purchased over 350,000 acres of America’s farmland. By ensuring the Secretary of Agriculture has a seat at the table of CFIUS, foreign transactions involving agricultural assets will receive proper oversight so we can prevent our adversaries from undermining our agriculture supply chains and national security.” - Congresswoman Ashley Hinson
Background: Foreign investment in the American agriculture industry has grown at a rapid and dangerous pace, as foreign entities own nearly 45 million acres of agricultural land valued at nearly $83 billion.
The FARM Act would help counter foreign investment into the American agriculture industry by:
- Designating the agriculture industry and overarching supply chains as critical infrastructure,
- Requiring CFIUS to monitor foreign investment into our agriculture industry, and
- Adding the Secretary of Agriculture as a member of CFIUS.
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