US Rep. Ronny Jackson last week along with Abigail Spanberger (D-VA-07) and Vicente Gonzalez (D-TX-34) reintroduced the bipartisan, bicameral Foreign Adversary Risk Management (FARM) Act to help protect America’s ag industry from malign foreign investors.
The bill would also bolster the US supply chain by reforming the Committee on Foreign Investment in the United States (CFIUS) – the governmental body that oversees the vetting process of foreign investment and acquisition of American companies. Senator Tommy Tuberville (R-AL) introduced companion legislation in the US Senate.
“Today, America faces numerous threats to its national security, and the agricultural industry is no exception,” Jackson said. “Our adversaries, especially the Chinese Communist Party, continue to increase their presence in America’s food industry and agricultural supply chains.”
This bill will help to combat foreign investment into, and interference of, the American agriculture industry by modernizing the Committee on Foreign Investment in the United States (CFIUS) to ensure that the US monitors this investment and understands the national security implications.
Specifically, this bill would reform CFIUS by: Ensuring CFIUS recognizes the agriculture industry and agriculture supply chains as critical infrastructure, Adds the Secretary of Agriculture to CFIUS, and Requires CFIUS to review any investment that could result in foreign control of any US ag business.
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