2022 was a foreign ownership of U.S. farmland surge!
According to a recent USDA report, foreign ownership of U.S. farmland increased in 2022, with nearly 3.5 million acres acquired.
However, China’s holdings decreased by less than 1 percent of foreign-owned acres from 2021, but concerns are still on the rise, particularly near military sites.
Washington state Republican Dan Newhouse says that it is important to prevent adversaries like China from gaining a foothold on American soil: “This is about our country’s national security, in ensuring that adversaries like China, like Russia, like North Korea or Iran do not gain a foothold on American soil.”
“That includes legislation Newhouse introduced to broaden the U.S. Treasury Department’s control over foreign U.S. farmland ownership.
According to Rep. Newhouse, “The People’s Republic of China is only interested in reaping every possible benefit from U.S. land without giving back or considering our future to sustain an independent energy and food production. The U.S. cannot become dependent on our adversaries for our domestic food supply.”
Senate legislation also requires USDA to have a permanent seat on the Treasury’s Committee of Foreign Investment in the U.S., or CFIUS, which sponsors may try to include in a new Farm Bill.