Grassley wants Ag Secretary permanently on CFIUS committee

by | Mar 14, 2017 | 5 Ag Stories, News

LISTEN: World of Agriculture 3-15-17

New bipartisan legislation would give top U.S. agriculture and food officials permanent representation on the Committee on Foreign Investment in the United States (CFIUS).

Senators? Chuck Grassley and Debbie Stabenow, of Michigan, proposed the ?Food Security is National Security Act of 2017.

?This year we are including the Secretary of Health and Human Services to the committee because of it?s jurisdiction over the Food and Drug Administration. Because of increasing numbers of agriculture firms being purchased by foreign investors, this legislation is needed now more than ever before,? Grassley says.

He says the first major purchase was Smithfield Foods.

?Now it is followed by Syngenta and Monsanto. Putting the secretaries on the committee permanently will signal the importance of how we view those agriculture assets to not being bought by foreign buyers or if they are going to be bought, taking into consideration whether or not national security is heard.?

Stabenow says ?Protecting the integrity, safety, and resiliency of America?s food system is core to our national security. As foreign entities continue their aggressive acquisitions of U.S. food and agriculture companies, it?s imperative that these transactions face additional scrutiny.?

National Farmers Union (NFU) President Roger Johnson lauded the bill, citing the importance of maintaining food security for the sake of U.S. national security.

?Potential impacts on global and domestic food security should be a primary consideration for those tasked with ensuring our national security. As we?re seeing across the world, food shortages and disputes are leading to massive international crises. Without stability and certainty in our food systems, we can expect similar crises on our own soil.? Johnson says.

The bill will also include new agriculture and food-related criteria for CFIUS to consider when reviewing transactions that could result in control of a U.S. business by a foreign company.