Legislation to expand CFIUS reviews

North Dakota’s two U.S. Senators have joined the ranks of those behind the so-called Foreign Adversary Risk Management Act.

The bill would bolster the U.S. agriculture industry’s role on the Committee on Foreign Investment in the United States – or CFIUS. That’s the government body responsible for overseeing the foreign acquisition of American companies.

Senator Cramer says food security is national security. Our government must be diligent in conducting risk assessments of agriculture investments by foreign adversaries. Supporters note over the past few years the United States has experienced a rapid increase in foreign investment in the agricultural sector – particularly from China.

Currently, CFIUS does not directly consider the needs of the agriculture industry when reviewing foreign investment. CFIUS used that argument when it was asked to look at the proposed Fufeng project in Grand Forks.

Senator John Hoeven says advancing this legislation ensures the U.S. agriculture industry has a voice with CFIUS.

Both lawmakers have voiced opposition to the corn milling project in Grand Forks.