U.S. Rep. Randy Feenstra (R-IA) recently touted the benefits of the newly introduced Foreign Adversary Risk Management (FARM) Act, which offers supply chains and family farms foreign threats protections.
“American farmland belongs to American farmers – period,” said Feenstra, who helped introduce the bill. “On my 36 County Tour, I have met with countless Iowans who are rightfully concerned that foreign countries like China are purchasing our farmland, infiltrating our country, and threatening our national and food security. That’s why I am proud to support the FARM Act to prevent foreign control of critical agricultural supply chains and food production and stop China’s reckless acquisition of Iowa farmland.”
Per the legislation, the U.S. Department of Agriculture and the Government Accountability Office (GAO) would be required to draft a report regarding the largest threats posed by foreign farm ownership and agriculture-related espionage tactics used by foreign nations to target American intellectual property, agricultural research and development and cost and pricing data.
Additionally, the bill specifies the measure would appoint the U.S. Secretary of Agriculture to the Committee on Foreign Investment in the United States and require the Committee to review any agricultural investment potentially resulting in foreign control of any American agricultural producer or business.