In this research, we debate the critical challenges posed by the COVID-19 pandemic such as food scarcity, by examining the influence of consumption values on consumers’ willingness to consume genetically modified (GM) food in the presence of consumer food attitudes, animosity, and ethnocentrism, which could be the one possible option to deal with the food scarcity problem. The proposed relationship could help to understand the complex societal problem of food scarcity and import dependency in the food sector before and after the crisis. Therefore, based on the theory of consumption values, we investigated government actions, consumer attitudes, and their willingness to consume GM food through 1340 valid USA responses and 1065 Chinese responses. We observed that COVID-19 doubled the number of malnourished people in 2020 relative to 2019, while consumption values, to some extent, changed consumer food attitudes and were inclined toward other food alternatives such as GM food regardless of governmental support for GM food in both USA and China. Moreover, this research enables governments, policymakers, market practitioners, and other stakeholders to use the COVID-19 crisis as an opportunity to negotiate with other countries to share their food technology along with imports.