Today, U.S. Senator Todd Young (R-Ind.) joined U.S. Senator Mike Braun (R-Ind.) in introducing the Protecting American Agriculture from Foreign Adversaries Act of 2024 to add another layer of scrutiny to foreign acquisitions of U.S. farmland and agricultural industries, specifically monitoring purchases made by adversaries like China, North Korea, Russia, and Iran.
“Nearly two-thirds of land in Indiana – and more than half of all land in the United States – is farmland. Recent efforts by China and other adversaries to buy agricultural land across the country could present a national security threat. Indiana is a leader in restricting these purchases, but Congress must act to ensure permanent safeguards are in place in all fifty states,” said Senator Young.
“Chinese ownership of American farmland increased more than 20-fold in the past decade. The amount of American soil in the hands of our foreign adversaries will only go up if we do not implement restrictions and oversight, especially on nations that compromise our national security and agricultural supply chains. I’m proud to lead this effort to protect American farms and food security,” said Senator Mike Braun.
The Protecting American Agriculture from Foreign Adversaries Act of 2024 would:
- Permanently include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States (CFIUS) with respect to covered transactions involving agricultural land, agricultural biotech, or the transportation, storage, and processing of agricultural products.
- Authorize the Secretary of Agriculture to report both agricultural land transactions that involve foreign persons of China, North Korea, Russia, or Iran, and transactions that require AFIDA reporting to CFIUS.
In addition to Senators Young and Braun, Senators Tommy Tuberville (R-Ala.), Joe Manchin (I-W.Va.), Tom Cotton (R-Ark.), John Tester (D-Mont.), Roger Marshall (R-Kan.), John Fetterman (D-Pa.), Chuck Grassley (R-Iowa), Marsha Blackburn (R-Tenn.), Pete Ricketts (R-Neb.), John Barrasso (R-Wyo.), Katie Britt (R-Ala.), Tammy Baldwin (D-Wis.), and Deb Fischer (R-Neb.) also joined the legislation.
This bill is sponsored by the Indiana Farm Bureau, American Farm Bureau, Indiana Soybean Alliance, and the Indiana Corn Growers Association.
Full bill text is available here.
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