Senators unanimously approve amendments to defense bill aimed at blocking foreign adversaries from purchasing US farmland and monitoring high-tech investments
In a significant move to protect American interests, US senators have approved bipartisan amendments to the annual defense policy bill targeting China, Russia, Iran, and North Korea. The amendments aim to prevent these four foreign adversaries from purchasing US farmland and acquiring high-tech investments within the country.
The measure, which received a 91-7 vote, would require a comprehensive review of agricultural land transactions by the aforementioned nations. It would also empower the Committee on Foreign Investment in the United States to evaluate these land deals. The committee is already responsible for reviewing other inbound investment transactions.
Foreign ownership of US farmland has been a growing concern, especially in strategic areas near military bases. The most recent data from the US Department of Agriculture reveals that out of the 40 million acres of US forest and farmland owned by foreign investors in 2021, China accounted for less than 1%, with 383,935 acres. However, lawmakers have expressed worry over specific cases, such as the purchase of 300 acres by a Chinese-owned corn processing company near an Air Force base in North Dakota in 2022, as well as the discovery of a Chinese surveillance balloon in Montana earlier this year.
The bipartisan amendment was co-sponsored by Republican Senators Mike Rounds, Steve Daines, John Kennedy, Joni Ernst, Cynthia Lummis, Ted Cruz, Kevin Cramer, John Hoeven, Katie Britt, along with Democratic Senators Jon Tester and Sherrod Brown. Senator Rounds highlighted the attempts by near-peer competitors to acquire land near US military bases and emphasized the need to safeguard national security and prevent foreign interference in critical areas.
Another amendment approved by senators by a vote of 91-6 focuses on screening US investment in high-tech sectors in China, Iran, North Korea, and Russia. This amendment aims to monitor investments in key areas such as artificial intelligence, advanced semiconductors, satellite communications, and quantum computing. Democratic Senator Bob Casey and Republican Senator John Cornyn have been pushing for legislation to monitor offshoring of supply chains with national security implications since 2021.
Unlike the mechanisms in place for reviewing foreign investments coming into the US, there is currently no federal oversight for the dollars American companies invest outside the country. This amendment seeks to address this gap by requiring US corporations and entities to notify the Secretary of the Treasury before engaging in certain deals with foreign adversaries.
The National Defense Authorization Act, the annual defense policy bill, is crucial for shaping defense policies, nuclear weapons programs, and authorizing defense-related expenditure. Lawmakers often use this legislation as a platform to address various policy matters. After passing the Senate, the bill will move to a conference committee with a House-passed bill that tackles issues related to abortion access, transgender health, and racial equity.
Protecting US interests in critical sectors and preventing the acquisition of American farmland by foreign adversaries are important steps to safeguarding national security. These amendments demonstrate bipartisan support for countering threats posed by China, Russia, Iran, and North Korea. As the defense bill moves forward, lawmakers will continue to address these pressing national security challenges and work towards ensuring a secure future for the United States.
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