One of the concerns about a proposal to create “natural asset companies” was the potential for foreign influence over American land management.

Where farmlands are concerned, though, that’s already happening.

According to a Government Accounting Office report, foreign investment in U.S. agricultural land grew to approximately 40 million acres in 2021.

“This can pose national security risks–such as when foreign interests buy land near U.S. military installations,” the report states.

Congressman Glenn Thompson, currently the chair of the House Agriculture Committee, recently said that he and Oversight and Accountability Committee member James Comer “requested the GAO study (into) foreign investment in U.S. farmland and its impact on national security, trade and food security.”

That study was published last week.

The USDA currently tracks such land purposes under the Agricultural Foreign Investment Disclosure Act of 1978 and then shares that information with the Committee on Foreign Investment in the United States (CFIUS), an interagency committee that reviews certain foreign transactions through a national security lens.

The report outlines six recommendations aimed at improving the quality of that data and that it be shared with the CFIUS agencies in a “more detailed and timely” way.

“USDA annually publishes data on agricultural land investments, which DOD (Department of Defense), Treasury, and other agencies may review for risks,” the GAO explained. “DOD noted that it needs more specific and timely data.

“USDA needs to collect, track, and share the data better, and developing a real-time data system would help,” the GAO added. “USDA generally agreed with our recommendations.”

“Growing foreign ownership of U.S. farmland, particularly by China, poses a direct threat to our food security and national security,” Thompson said. “Safeguarding our farmland and food supply requires a whole of government approach, and we will continue to work with the impacted agencies, relevant committees, and congressional leadership to continue robust oversight and identify avenues to address the findings of the GAO report.”