The Senate Agriculture Committee chairwoman is drafting legislation to overhaul the way the government reviews purchases of U.S. companies by foreigners. Chairwoman Debbie Stabenow disclosed her intentions as part of a PBS NewsHour review of the purchase of Smilthfield Foods by Shuanghui International, of China. “Food security is national security,” Stabenow said on the program, according to a news release by the committee. ““And I can’t imagine that the American people will feel comfortable if they wake up someday and find that half of our food processors are owned by China.”
Stabenow was critical of the Smithfield takeover last year and argued the Treasury Department-led review of purchases by foreign entities should consider an array of national interests.
The PBS report, “Who’s behind the Chinese takeover of the world’s biggest pork producer?, is available here.