DeLauro Statement on CFIUS Decision on Shuanghui’s Purchase of Smithfield Foods

WASHINGTON, DC—Congresswoman Rosa DeLauro (D-CT) released the following statement today on the Committee on Foreign Investment in the United States (CFIUS)'s decision to allow Shuanghui International's purchase of Smithfield Foods to proceed. DeLauro is a longtime advocate for ensuring America's food supply is safe and affordable for consumers and a former chairwoman of the subcommittee responsible for funding the Agriculture Department.

"I am deeply troubled by the decision to approve this merger and have serious concerns over the negative long-term ramifications of this deal.  Smithfield's acquisition by Shuanghui raises a host of economic and public health issues, which I raised with regulators during this process. 

"I look forward to discussing with Treasury officials and other regulators the extent to which they analyzed the impact the acquisition will have on the short- and long-term ability of the United States to protect intellectual property rights, as well as the safety and security of the U.S. food supply system.  This is unlikely to be the last time a Chinese firm seeks to make a major purchase in our food and agriculture sector and it is critical that moving forward we look at what must be done to protect American famers and families.  

"Legislation may be necessary to ensure these issues are taken into account in the future and, if so, I will work to make sure that happens."

DeLauro raised concerns about the Smithfield-Shuanghui deal from the moment it was announced. She joined Massachusetts Senator Elizabeth Warren in writing to four top members of the Obama Administration, to ensure greater transparency of the proposed deal. She also ensured the Financial Services Appropriations bill approved by the House of Representatives Appropriations Committee required CIFIUS to consider food safety, food security and intellectual property concerns in its review. Unfortunately that bill has yet to come before the full House of Representatives for a vote.