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

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BY TEAM DML / 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.

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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.

To get more information about this article, please visit TheHill.com. To weigh in, leave a comment below.

DML News App offered you the above aggregated article preview as part of our ongoing effort to educate and inform people around the world about news, events, and politics. We encourage you to obtain additional information by visiting TheHill.com

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