The U.S. government is conducting a secondary review of Smithfield Foods pending takeover by China’s largest meat producer. The Committee on Foreign Investment in the United States plans to do an additional 45 day investigation. Nebraska Farmers Union President John Hansen says the purchase should be turned down because it’s terrible economic policy, awful fiscal policy and not in our national interest. He says there are also major concentration problems with the deal.
Hansen says in addition if the purchase is allowed to go forward a lot of private and sensitive business information will be handed over to the entire Chinese government
Hansen says the purchase also enhances anti competiveness as it pits all other U.S. hog processors against the whole country of China which has large access to capital and favorable regulatory treatment and leaves in its wake an uneven playing field.