China is buying up American farms. Washington wants to crack down.

 China is buying up American farms. Washington wants to crack down.

“America cannot allow China to control our food supply,” Pence said Wednesday during a speech at the conservative Heritage Foundation, urging President Joe Biden and Congress to “end all farm subsidies for land owned by foreign nationals.”

Chinese firms have expanded their presence in American agriculture over the last decade by snapping up farmland and purchasing major agribusinesses, like pork processing giant Smithfield Foods. By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the Agriculture Department.

Still, that’s less than farmland owned by people from other nations like Canada and European countries, which account for millions of acres each. It’s also a small percentage of the…

Read full article…www.politico.com