(WASHINGTON, DC) – Senator John Hoeven has joined a pair of Senate colleagues in reintroducing an act which would add the Secretary of Ag to a government body overseeing the vetting process of foreign investment and acquisition of American companies.
The Foreign Adversary Risk Management (FARM) Act would add the Secretary to the Committee on Foreign Investment in the United States (CFIUS). Currently, CFIUS does not directly consider the needs of the agriculture industry when reviewing foreign investment and ownership in domestic businesses.
Hoeven says the country ‘must have stronger supervision of foreign investments that affect the American food supply.’
He joins Senators Tommy Tuberville of Alabama and John Fetterman of Pennsylvania on the legislation.
