Senators Marco Rubio of Florida and Bob Menendez of New Jersey want the Treasury Department to review transactions conducted by JBS South America. The Organization for Competitive Markets is pleased they’re asking for that investigation. OCM Executive Director Joe Maxwell says JBS SA has been engaged in illicit financial activities.
He says JBS SA which has obtained a lot of U.S. beef, pork and poultry processing does not have a good history or track record.
Maxwell says JBS SA has been able to buy up more U.S. companies while obtaining U.S. trade aid intended to go to America’s farmers and ranchers suffering from the U.S. China trade war.
In their letter to Treasury Secretary Steven Mnuchin, the Senators said the growing trend of foreign investment in the U.S. food system demands increased attention and scrutiny in order to safeguard the nation’s food supply.
