REPORT: Senators ask Treasury to probe Brazilian meatpacker with major US footprint

OCTOBER 9, 2019

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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.

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