China's largest meat processor struck a surprise $4.7 billion agreement to acquire Smithfield Foods, a deal that would mark the biggest Chinese takeover of an American company. — Mike McDowell (@M_McDowell) April 15, 2020 Why is such a valuable asset, such as Smithfield, in the hands of a Chinese company? Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world. A Smithfield spokesperson told reporters that the objective of the deal was “to increase the export of U.S. pork to China.” The eRumor alleged poor sanitary conditions of farm raised tilapia from China. Had it acted in late March, not mid April, Sioux Falls would be much safer. Smithfield Foods, Inc., is a pork producer and food-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. In Smithfield, Virginia, Smithfield Foods is everywhere. With Americans eating less pork than they once did, Smithfield is eager to increase its exports to China, where meat consumption has skyrocketed as the country’s economy has boomed. Smithfield Foods, producer of the iconic holiday ham, was one of America’s flagship food companies, steeped in centuries of U.S. tradition.. Smithfield Foods sat on the outbreak for 2 weeks and did nothing. It's not just a combination of property rights and market demand -- environmental factors are the impetus behind the deal. has findings posted, which can be read by clicking this link. Smithfield Foods, whose South Dakota plant has become a hotspot for coronavirus cases, was purchased by Chinese tycoon Wan Long’s firm WH Group in 2013. The $14 billion global meat-processing company—the world’s largest hog farmer and pork producer and maker of the uniquely aged and smoked Smithfield ham—is the biggest employer in the town of about 8,000 people. It has become abundantly clear that China is no ally to Americans — or to American farmers. What happens if China’s government uses its influence over private enterprise as a strategic tool of the state to wage an economic war against the U.S.? The Virginia-based pork company derived its ham from a curing process Native Americans taught settlers five centuries ago. Both Smithfield, based in Virginia, and Shuanghui have emphasized the mutual benefits of the deal.