Congresswoman Rosa DeLauro (D-CT) today called for a comprehensive review of the pending purchase of Smithfield Foods by Shuanghui International. DeLauro ensured the Financial Services Appropriations bill approved by the House of Representatives Appropriations Committee requires the Committee on Foreign Investment in the United States (CIFIUS) to consider food safety, food security and intellectual property concerns in its review of the proposed Smithfield-Shuanghui deal. Her proposal has bipartisan support, including the backing of Appropriations Committee member Frank Wolf (R-VA).
"Smithfield's potential acquisition by a Chinese company raises important questions about intellectual property rights, food safety and public health, among other issues. Public officials have a responsibility to protect American consumers and businesses. That includes ensuring a fair economic playing field and the safety and security of our food supply. The Treasury-led Committee on Foreign Investment in the United States needs to ensure that proper regulatory oversight is undertaken as it considers this historic potential deal."
The language, included in the bill passed by the House Appropriations Committee today reads in part: "The Committee is concerned about the ramifications of the Shuanghui International Holdings Ltd. potential acquisition of Smithfield Foods. The Committee believes that technology transfer, food safety, and food security issues are concerns that should be considered in any Committee on Foreign Investment in the United States (CFIUS) review of the acquisition."