Protecting American Agriculture from Foreign Adversaries Act of 2024

The Protecting American Agriculture from Foreign Adversaries Act of 2024 requires the Secretary of Agriculture to join the Committee on Foreign Investment in the United States (CFIUS) when reviewing transactions involving U.S. agricultural land, biotechnology, or agricultural industry sectors (including transportation, storage, and processing) with foreign entities from China, North Korea, Russia, or Iran. It mandates that the Secretary of Agriculture notify CFIUS about transactions where a foreign person from one of these "covered countries" is acquiring agricultural land, and CFIUS must then determine whether to initiate a review. This applies only to transactions already reportable under the 1978 Agricultural Foreign Investment Disclosure Act and expires for any covered country once it is removed from the official list of foreign adversaries. The law directly affects foreign investors from specified countries seeking to purchase U.S. agricultural assets and the federal review process for such transactions.