The Senate Ag Committee will hold a hearing this afternoon looking at the recent purchase of Smithfield Foods by a Chinese company. Iowa Senator Chuck Grassley says the Senate has a duty to use its oversight power and gain data on what’s happening with the purchase and how it will effect produdcers, U.S. companies and the country as a whole.
Part of that information is expected to come from Smithfield CEO Larry Pope who is scheduled to testify. Grasssley says for the most part, Smithfield has been very transparent over the purchase. He says he wants to make sure this purchase will be beneficial for the U.S. and not just for the Chinese government.
The final decision on the purchase will be made by a U.S. commission.