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.
The Act seeks to implement a recommendation issued in January 2024 by the Government’s Office of Accountability. This discovered that Afida was not equipped to combat foreign ownership of American farmland.
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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.
Essentially, “I’d say ‘No’ to China,” and “Fox Business,” Ashley Webster said on Monday in “Varney & Co.”
(Attila Kisbenedek/AFP Getty Images)
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.
According to the USDA, the US had 1.3 billion acres of private farmland at the end of 2023.
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The ownership of Chinese companies in American farmland has been a hot button problem in recent years, particularly as conflicts and competition between China and the US grow.
Dierdre Heavey of Fox News Digital contributed to this report.
