Foreign Adversary Risk Management Act or the FARM ActThis bill places the Secretary of Agriculture on the Committee on Foreign Investment in the United States (CFIUS). It also requires CFIUS to review any investment that could result in foreign control of any U.S. agricultural business.Further, the bill includes agricultural systems and supply chains in the definitions of critical infrastructure and critical technologies for the purposes of reviewing such investments.The Department of Agriculture and the Government Accountability Office must each analyze and report on foreign influence in the U.S. agricultural industry.
If enacted, SB179 would establish a framework for reviewing foreign investments pertaining to United States agriculture. It obligates the Secretary of Agriculture to analyze potential foreign influences in the industry and to report on significant threats to U.S. agriculture from foreign investments. This might involve tracking investments that could undermine agricultural production and exposing companies to foreign espionage aimed at U.S. agricultural intellectual property and technologies.
SB179, also known as the Foreign Adversary Risk Management Act, aims to amend the Defense Production Act of 1950 to enhance the protection of the United States agriculture industry against foreign influence. The bill emphasizes the need for safeguards in agriculture production and supply chains, addressing concerns about foreign control and investments that could disrupt domestic agricultural operations. By including agricultural systems and supply chains as part of critical infrastructure, the bill seeks to fortify national agriculture against foreign adversaries.
There may be considerable debate surrounding the bill, particularly regarding the balance of economic openness and national security. Critics might argue that while protecting agriculture from foreign control is essential, excessive scrutiny of foreign investments could hinder beneficial partnerships and contributions from global investors. Furthermore, the methods and criteria for assessing foreign threats in agriculture will likely be points of contention among legislators as they discuss the implications of such oversight.
Foreign Trade and International Finance