REPORT: Senators ask Treasury to probe Brazilian meatpacker with major US footprint
As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:
A bipartisan Senate duo asked the Treasury Department on Tuesday to investigate a scandal-ridden Brazilian corporation’s rapid expansion into the U.S. meat processing industry.
In a Tuesday letter, Sens. Robert Menendez (D-N.J.) and Marco Rubio (R-Fla.) asked Treasury Secretary Steven Mnuchin to probe whether JBS SA poses a national security and agricultural threat to the U.S.
The article goes on to state the following:
Menendez and Rubio asked Mnuchin to conduct an investigation through the Committee on Foreign Investment in the U.S. (CFIUS), a secretive Treasury panel with expansive power over foreign business operations in the U.S.
The Hill also provided the following explanation:
JBS SA, the largest meat processing company in the world, gained a foothold in the U.S. meat industry with its 2007 purchase of Swift & Co. The Brazilian company’s U.S. subsidiary, JBS USA, grew to be the second-largest U.S. producer of beef, pork and poultry in the country through a string of high-profile acquisitions.
Marco Rubio has become the first congressional Republican to call for an investigation into that Brazilian meatpacking company that has raked in millions in Trump admin farm bailouts despite a long history of corruption and seedy international ties. https://t.co/k0alYKhzHB
— Kyle Griffin (@kylegriffin1) October 9, 2019
— Reuters Top News (@Reuters) October 9, 2019
— The Hill (@thehill) October 9, 2019
To get more information about this article, please visit TheHill.com. To weigh in, leave a comment below.
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