Chinese and other foreign investors will face additional scrutiny when pursuing deals to buy American agricultural and food companies under proposals designed to protect US food safety and security.
The legislation set to be introduced in the Senate on Tuesday by Republican Charles Grassley and Democrat Debbie Stabenow come amid growing bipartisan demands for more rigorous vetting of Chinese investment in the US, which reached record levels last year.
The bill would present President Donald Trump with a way to deliver on campaign promises to take a hard line on Beijing that would likely be popular in agricultural states such as Kansas, Nebraska and Iowa. The president’s plans to rip up or renegotiate deals such as the North American Free Trade Agreement are the source of increasing angst among export-dependent farmers in those states worried that they would be the first target of retaliation in any trade war.