Following Rubio Request, Administration Poised To Provide Greater Scrutiny Of Chinese Agriculture Deal
May 17 2016
Washington, D.C. – U.S. Senator Marco Rubio (R-FL) today welcomed news that the U.S. Department of Agriculture (USDA) will be involved in scrutinizing the Chinese government’s $43 billion acquisition, through state-owned China National Chemical Corporation (ChemChina), of Syngenta, a key component of the U.S. food supply chain.
On March 29th, Rubio urged President Obama to ensure the USDA and the Food and Drug Administration (FDA) have the opportunity to weigh in on the largest proposed foreign takeover by a Chinese company in history. State-owned ChemChina plans to spend $43 billion on Syngenta, a Switzerland-based seed company with a significant presence in the U.S.
“China’s proposed takeover of Syngenta is a serious issue impacting America’s food supply, and thus our national security as well as our public health,” said Rubio. “Having top U.S. agriculture officials involved in the Committee on Foreign Investment in the United States’ review process is the first step in ensuring that our vital food supply is not jeopardized, that American farmers are not mistreated or taken advantage of, and that food safety standards are not diminished by Chinese state-owned companies.”