In a shocking revelation, it has come to light that Chinese billionaire and Communist Party member, Chen Tianqiao, is the second-largest foreign owner of farmland in the US, sparking outrage among US politicians. (Photo: NT Post)
Chen Tianqiao’s Acquisition of 200,000 Acres in Oregon Draws Criticism
In a shocking revelation, it has come to light that Chinese billionaire and Communist Party member, Chen Tianqiao, is the second-largest foreign owner of farmland in the US, sparking outrage among US politicians. The secrecy surrounding Chen Tianqiao’s $85 million purchase of nearly 200,000 acres of farmland in Oregon in 2015 has prompted heavy criticism and calls for an investigation. The purchase, made at about $430 an acre, was undisclosed for nearly a decade, raising serious concerns about agricultural security and foreign land ownership.
New York Republican Congresswoman Elise Stefanik took a firm stance, accusing the Biden administration of neglecting the protection of US agricultural land from foreign adversaries. Stefanik’s concerns reflect a broader issue of sovereignty and national security, as she highlighted the potential threats posed by foreign ownership of US agricultural land. The lack of transparency surrounding Chen Tianqiao’s acquisition has shed light on the need for stricter oversight over foreign investment in American farmland.
Chen Tianqiao’s significant land ownership only came to public attention recently, triggering a wave of demands for increased vigilance over foreign ownership of farmland. US lawmakers, including Montana farmer and Senator Jon Tester, have emphasized the necessity for Congress to take action to safeguard American agricultural security. The controversy has reignited discussions about the federal government’s oversight of foreign land purchases and the enforcement of regulations such as the Agricultural Foreign Investment Disclosure Act.
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The revelation of Chen Tianqiao’s status as the second-largest foreign owner of US farmland has raised questions about the efficacy of current regulations. The Agricultural Foreign Investment Disclosure Act, which requires foreign investors to report any new interest in American agricultural land, may require reevaluation and strengthening to ensure timely and transparent disclosure of such significant transactions. This controversy has also put the spotlight on other foreign entities, such as Canada’s Irving family, who are major landowners in the US.
The acquisition of such a vast expanse of US farmland by a foreign investor, coupled with the delayed disclosure of this ownership, has highlighted the need for enhanced regulatory measures to maintain the integrity and security of American agricultural land. As the political outcry intensifies, there is a growing determination among US policymakers to reevaluate and fortify regulations governing foreign ownership of US farmland.
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