Sen. Tommy Tuberville (R-AL) recently introduced the Foreign Adversary Risk Management (FARM) Act, which would “protect America’s agricultural industry from improper foreign investment.”
The legislation would boost the industry’s role on the Committee on Foreign Investment in the United States (CFIUS), which oversees the vetting process of foreign investment and acquisition of American companies.
“By adding agricultural supply chains as a covered transaction for CFIUS review, we can safeguard our food supply chains and agriculture industry from bad actors,” Tuberville said.
The bill would add the secretary of Agriculture to the committee, add language to “protect the U.S. agriculture industry” and report to Congress on current and potential foreign investments in the ag industry.
“The federal government must shed light on global corporations becoming more involved with our domestic food supply and agricultural businesses,” a press release from Tuberville concluded.
