Latest news with #WHGroup
New Indian Express
09-07-2025
- Business
- New Indian Express
Beijing decries 'discriminatory' ban on Chinese purchases of US farmland
BEIJING: Beijing condemned on Wednesday new restrictions by Washington on Chinese purchases of US farmland as "discriminatory" and violating international trade rules. The Trump administration said this week that the United States would begin restricting purchases of farmland by Chinese nationals and other "foreign adversaries". Mao Ning, a spokeswoman for China's foreign ministry, condemned the restrictions as "a typical discriminatory practice that violates the principles of a market economy and international economic and trade rules and will ultimately harm the US's own interests". "We urge the US to immediately stop politicising economic, trade and investment issues," she said. US Agriculture Secretary Brooke Rollins unveiled the National Farm Security Action Plan on Tuesday, citing national security concerns and referring to "Chinese Communist acquisition of American farmland". Rollins said the Trump administration also planned to "claw back what has already been purchased by China and other foreign adversaries". China ranks number 20 on a list of foreign owners of agricultural land, holding 277,336 acres (112,234 hectares) at the end of 2023, according to the US Department of Agriculture. Among the largest Chinese owners of US farmland is Smithfield Foods, which was purchased by a Chinese company, WH Group, in 2013.
The Sun
09-07-2025
- Business
- The Sun
US restricts Chinese farmland purchases over security concerns
WASHINGTON: The United States government has announced new restrictions preventing Chinese nationals and other foreign entities deemed as security threats from purchasing American farmland. The policy shift comes amid growing concerns over foreign ownership of agricultural land near sensitive military installations. Agriculture Secretary Brooke Rollins described the move as necessary to counter what she termed a 'massive threat' to national security. She unveiled the National Farm Security Action Plan alongside other senior officials, stating that foreign acquisitions of farmland could be weaponised against US interests. 'American agriculture is not just about feeding our families but about protecting our nation and standing up to foreign adversaries who are buying our farmland,' Rollins said. The administration also plans to reclaim land already purchased by China and other nations classified as security risks. China currently ranks 20th among foreign owners of US agricultural land, holding approximately 277,336 acres as of late 2023, according to USDA data. Among the notable Chinese-owned entities is Smithfield Foods, acquired by WH Group in 2013. Defense Secretary Pete Hegseth emphasised additional safeguards for military installations, stating that the Pentagon would block sales of nearby farmland to foreign adversaries. 'As someone who's charged with leading the Defense Department, I want to know who owns the land around our bases,' he said. The new measures reflect heightened scrutiny over foreign investments in critical sectors, particularly agriculture, as geopolitical tensions persist. Officials reiterated that the policy aims to safeguard national interests while maintaining transparency in land ownership. - AFP
Mint
09-07-2025
- Business
- Mint
Trump administration seeks to ban China from buying US farms
The Trump administration has a message for China: Keep off the farm. Agriculture Secretary Brooke Rollins said Tuesday the administration will work with state lawmakers to ban sales of U.S. farmland to buyers from China and other countries of concern, citing national-security interests. Rollins, joined by Defense Secretary Pete Hegseth and Homeland Security Secretary Kristi Noem, said the government is ratcheting up scrutiny on existing land owned by Chinese buyers and is looking at ways to potentially claw back past purchases. 'We'll never let foreign adversaries control our land," said Rollins. State and federal lawmakers for years have warned that China and other countries could use U.S. farmland to facilitate spying or wield influence over the U.S. food supply chain. Chinese-owned entities hold nearly 300,000 acres—roughly 0.02%—of U.S. farmland, according to Agriculture Department data, an area about the size of Los Angeles. Republicans and Democrats alike have sought to curb foreign ownership of American farmland, at times seeking to increase government scrutiny of purchases and investments. Critics have raised fears that foreign owners could drive up land prices or sidestep environmental rules. China's government has played down such concerns as overblown. Representatives of China's embassy in Washington, D.C., had no immediate comment. Rollins said on Tuesday that U.S. farms are under threat from China and other countries that are trying to infiltrate American agricultural research and steal technology. 'No longer can foreign adversaries assume we aren't watching," Hegseth said. Some state and municipal lawmakers have taken steps in recent years to block China-backed investment or ownership in U.S. agriculture. The city of Grand Forks, N.D., in 2023 halted the construction of a Chinese-owned corn mill after a U.S. Air Force official said the planned $700 million facility could represent a national-security risk because of its proximity to a nearby base. Some China-based ownership of U.S. farmland involves prominent U.S. agriculture companies. Pork giant Smithfield Foods and seed and pesticide supplier Syngenta have both faced criticism from government officials and lawmakers because of their Chinese owners. Smithfield is majority-owned by Chinese pork company WH Group and Syngenta is a subsidiary of China National Chemical. The companies' American leaders have pushed back, saying their China-based owners have helped them invest in U.S. farmers and create jobs. Smithfield in the past represented roughly half of the U.S. farmland owned by Chinese entities, via its Hong Kong-based parent. Much of that had been tied up in hundreds of company-owned hog farms and processing plants, according to federal data. WH Group acquired Smithfield in 2013, aiming to harness its technology and expertise to boost WH's operations in China. Smithfield returned to the U.S. public markets earlier this year, raising roughly $500 million after listing its shares on the Nasdaq Stock Market. WH Group owns about 93% of Smithfield's shares. 'We're an American company, American management team and made in America," Smithfield Chief Executive Shane Smith said in an interview earlier this year. Smithfield last year sold more than 40,000 acres of its U.S. farmland, leaving it with roughly 85,000 acres. Shares of Smithfield fell about 1% on Tuesday. Syngenta, the largest pesticide seller in the U.S., has said it owns a small amount of land for research, development and regulatory trials. The company, which employs about 4,000 people in the U.S., has previously faced calls to sell its farmland holdings. Two years ago, Arkansas ordered Syngenta to sell about 160 acres in the state, where it maintained an agricultural research facility with a few dozen employees. Syngenta at the time called the state's decision shortsighted. A Syngenta spokesman said Tuesday that the company is in the process of selling its remaining U.S. farmland and currently owns less than 1,000 acres in the country. Write to Patrick Thomas at
Telegraph
08-07-2025
- Business
- Telegraph
US bans China from buying farmland
The US is banning Chinese buyers from purchasing farmland amid concerns over national security. Brooke Rollins, the head of the department of agriculture, announced on Tuesday that the US government plans to prohibit sales of farmland across the country to buyers from China and other adversaries to protect US food security. Speaking at a joint press conference alongside Pete Hegseth, the defence secretary, and Kristi Noem, the homeland security secretary, she also announced the administration is looking at clawing back land purchased by entities from China, Russia and Iran. 'American agriculture is not just about feeding our families, but about protecting our nation and standing up to foreign adversaries who are buying our farmland, stealing our research, and creating dangerous vulnerabilities in the very systems that sustain us,' Ms Rollins said. Chinese investors currently hold around 280,000 acres of US farmland, according to USDA data, equating to around 0.03 per cent of total agricultural land. Around half of this is tied to a single company, Smithfield Foods, a meat giant which has come under fire from lawmakers because of its Chinese owners. Smithfield is owned by WH Group, a conglomerate owned by billionaire Wang Long. Company chiefs push back The US chiefs of Smithfield and Syngenta, a pesticide supplier, have pushed back against criticism, saying overseas investment has helped create jobs. Mr Hegseth said that foreign adversaries buying farmland close to military bases was a particular cause for concern, adding that blocking these sales would help ensure supplies reach soldiers, 'especially in a contingency'. 'No longer can foreign adversaries assume we aren't watching,' he said. State lawmakers have long warned that China could use US farmland to facilitate espionage or threaten US food security. Scrutiny has stepped up in recent years following a controversial 2022 land deal in North Dakota, where Chinese-owned Fufeng Group bought hundreds of acres for a corn mill around 12 miles from Grand Forks Air Force base. The purchase was ultimately blocked by local officials, who cited national security concerns. The case drew attention to a loophole in foreign investment rules that allowed foreign adversaries to buy land near military facilities not formally listed as sensitive sites.
Yahoo
06-07-2025
- Business
- Yahoo
A Chinese Company Actually Owns This Staple American Hot Dog Brand
To Americans, there might not be anything more emblematic of summertime than the humble hot dog. In fact, Americans eat a staggering number of hot dogs on the Fourth of July alone. One of the most recognizable brands for Independence Day and hot dog-worthy occasions throughout the year is Nathan's Famous. In a blind taste test to determine the best hot dogs, the brand scored second. If you've spent any time on the boardwalk in Coney Island, you've probably eaten a dog or two from Nathan's and maybe even seen the Nathan's Hot Dog Eating Contest. So it may come as a surprise that this brand with a very American vibe is controlled by a Chinese company. Nathan's is owned by Smithfield, which itself is actually owned by Chinese conglomerate WH Group Limited. Yep, America's most iconic all-beef hot dog is owned by a Chinese corporation that also happens to be the largest pork processing company in the world. In 2013, it acquired Smithfield for $4.7 billion, and the company overall had nearly $26 billion in sales in 2024. That's a whole lot of sausage. Read more: The Highest And Lowest Quality Hot Dogs You'll Find At The Grocery Store Opinions about China in the U.S. can lean negative, so it makes sense that some United States officials are worried about Chinese investments in American agriculture, including pork production. However, the investment of Chinese companies overall is relatively small. According to USDA estimates from 2021, Chinese-owned companies held about 384,000 acres of American soil. Smithfield properties accounted for around 100,000 acres of that. To put it all in perspective, Canadian companies owned more than 12 million acres, and companies owned by the Netherlands held close to 5 million acres. That figure even appears to have decreased, as 2023 USDA estimates clocked Chinese company acreage at around 277,000 -- this is less than 1% of all land owned by foreign companies in the U.S. Holdings from Canadian companies, on the other hand, increased by more than 3 million, which amounts to 33%. China's economy, depending on how you slice it, is about the same size as the United States'. Most Chinese agricultural investments are actually in Russia and around Asia. It's hard to make the case that Chinese farm and agricultural investments are taking over the U.S. when they don't even compare to Canadian-held land. But whether or not you're afraid of Chinese-owned companies that make hot dogs, slapping some Nathan's Famous franks on the grill won't do you any harm. For more food and drink goodness, join The Takeout's newsletter. Get taste tests, food & drink news, deals from your favorite chains, recipes, cooking tips, and more! Read the original article on The Takeout.
