WASHINGTON – U.S. Senator Kevin Cramer (R-ND), member of the Senate Armed Services Committee (SASC), issued the following statement after two amendments he cosponsored were included in the National Defense Authorization Act (NDAA) for Fiscal Year 2024. Both passed the Senate with broad, bipartisan support.
“China has become the United States’ greatest geopolitical competitor. Whether it is their purchase of our farmland or America’s critical supply chains being shifted to China, it is a threat deserving our attention. As we know from Grand Forks’ experience raising the alarm about Fufeng, a Chinese company setting up shop a stone’s throw away from a sensitive military base should be prevented and the pandemic shown a bright light on the importance of securing our supply chains. Both these amendments are a step forward for our national security and a clear signal the United States is taking China’s aggression seriously.”
Senator Mike Rounds’ (R-SD) amendment #813 will prevent agricultural investments by foreign persons and businesses from countries deemed as adversaries. Additionally, the amendment would require the Committee on Foreign Investment of the United States (CFIUS) to review investments by covered foreign persons in agriculture or private real estate used in agriculture that are more than 320 acres or are valued over $5,000,000. The countries covered in the amendment include China, Russia, Iran, and North Korea. The amendment passed 91 - 7.
Senator John Cornyn’s (R-TX) amendment #931 will establish a process led by the Department of the Treasury, in coordination with the Department of Commerce, to require U.S. firms to notify Treasury when participating in certain “covered activities” in countries of concern. It also requires the U.S. government to coordinate with allies and partners on the implications of a notification process and work to implement outbound investment screening in partner countries. The amendment passed 91 - 6.