Joco Today

U.S. Senators Roger Marshall, Tommy Tuberville, and a group of bipartisan colleagues have introduced the Foreign Adversary Risk Management (FARM) Act. This legislation aims to add the U.S. Secretary of Agriculture as a permanent member of the Committee on Foreign Investments in the United States (CFIUS). The committee is responsible for overseeing foreign investments and acquisitions in American companies, with an emphasis on preventing foreign interference in the U.S. agriculture sector.

Senator Marshall emphasized the importance of food security, stating, "Food Security is National Security, it’s high time that we start recognizing this before it is too late." He highlighted that currently, CFIUS does not directly consider agricultural needs when vetting foreign investments.

Senator Tuberville expressed concerns over increasing foreign purchases of American farmland by adversaries such as Russia, China, North Korea, and Iran. He said these investments affect various aspects of agriculture from farming to shipping. "We must prioritize oversight of foreign investment in our food supply chains," he stated.

Senator John Fetterman pointed out that Pennsylvania's farmers already face numerous challenges without having to compete with foreign entities buying U.S. farmland. He remarked, "America’s farms are critical infrastructure," advocating for the inclusion of the Secretary of Agriculture in CFIUS.

Former Secretaries of Agriculture under Democratic administrations have shown support for this move. In parallel efforts within the House of Representatives, Rep. Ronny Jackson reintroduced companion legislation aimed at securing America's food production from foreign manipulation.

Rep. Jackson criticized current leadership for allowing unchecked foreign influence in agriculture: "Biden’s failed leadership allowed unchecked foreign influence...to interfere with and attempt to control our food supply chain."

The background information highlights a rapid increase in foreign ownership of U.S. agricultural land over recent years, particularly from Chinese investors. USDA data shows a significant rise in such ownership since 2017.

CFIUS currently reviews foreign investments concerning national security but does not specifically address agricultural industry needs during its evaluations.