The Foreign Adversary Risk Management or FARM Act was introduced in both the Senate and House this week. The measure seeks to combat foreign interference in America’s agriculture supply chain. Coalition for a Prosperous America CEO Michael Stumo says the bill looks good on the surface.
He says there’s been quite a bit of foreign investment in other countries ag lands including in Canada and Australia.
Stumo says one of the main concerns of a foreign country purchasing U.S. farms and ranches is with China.
The FARM Act calls for adding the U.S. Ag Secretary to the Committee on Foreign Investment, an interagency committee that is authorized tor review certain foreign investment transactions, and designate agriculture as critical infrastructure.