A U.S. government agency has given its approval to Smithfield’s purchase by a Chinese company. Iowa Pork Producers President Greg Lear says he understands concerns about the deal that would lead to 25 percent of the U.S. pork industry being owned by a foreign company. He says however the opportunity for significant trade inroads is huge.
Lear says with that sale approval if it comes to pass will lead to just the tip of the ice berg of potential U.S. pork sales to China.
He says those who oppose the Smithfield sale to the Chinese company are just spinning their wheels because nothing can be done about it anyway.