China has targeted bills to restrict foreign ownership of American farmland
Fox Business’s “Ashley Webster” highlights which stocks are higher than ever, breaking down a new bill cracking down on China to buy US land on “Varney & Co.”
Lawmakers are targeting China with the recently introduced legislation.
A group of bipartisan lawmakers introduced the Agricultural Foreign Investment Disclosure Improvement Act (AFIDA) this month. That’s how the movement was First reported By Fox News Digital.
law We are attempting to implement recommendations issued by the government’s Accountability Office in January 2024. This discovered that Afida was not equipped to combat foreign ownership of American farmland.
According to Fox News Digital, some of the other measures suggests that they require the promotion of the US Foreign Investment Commission and the AFIDA Handbook to be updated, as they hold a profit of more than 1% to foreigners who hold interest on US farmlands.
It’s basically “we’d say China ‘no’,” Ashley Webster said Monday.”Varney & co. ”
(Attila Kisbeneek/AFP Vitty image)
As of the end of 2023, more than 277,000 acres of farmland are owned by Chinese investors, and the land is located in “national” states. According to USDA Report.
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Overall, foreign investors holdings of US farmland have reached nearly 45 million acres at the end of the year.
According to Webster, US farmland owned by foreign companies has skyrocketed between 2014 and 2023.
The state has also taken action on the issue in recent years, noting that Webster “already has some kind of law that prohibits or restricts foreign entities or governments from purchasing AG land.”
Farmers spread pesticides across fields in Centreville, Maryland. (Jim Watson/AFP via Getty Images/File)
Half of the US would ban foreign ownership of farmland “as of April this year,” Webster reported.
There were 1.3 billion acres in the US Private farmland At the end of 2023, according to the USDA.
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The ownership of Chinese companies in American farmland has been a hot button issue in recent years, particularly in conflict and competition. China And the US grows.
Dierdre Heavey of Fox News Digital contributed to this report.