Introduction: A New Legislative Push

Through an expedited process, the House of Representatives has just passed a bill aimed at making the purchase of U.S. farmland by foreign buyers more difficult than under current law. The proposed legislation is intended to address the international threat posed by Beijing, which has made several farmland purchases in the United States over the past decade. Currently, Canada is the largest foreign owner of U.S. farmland, accounting for 32% of land under foreign ownership. In contrast, Chinese ownership accounts for less than 1%—approximately 349,442 acres across the country.

Republican Congressman Frank Lucas, the proponent of the legislation, proposed adding the Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS). This measure would enhance due diligence when it comes to purchasing land in the United States and would require the USDA to report any land purchases by countries designated as foreign adversaries to the CFIUS.