Cuba purchased more than $5.2 billion in U.S. products from 2001 to 2015, largely agricultural products. For many of those years, the U.S. was Cuba’s largest supplier of agricultural products. U.S. exports to Cuba rose from about $7 million in 2001 to a high of $712 million in 2008, far higher than in previous years. … Read more
Conceived in 1993 and established in 1994, the U.S.-Cuba Trade and Economic Council provides the U.S. business community with information and analysis on matters of interest regarding U.S.-Cuba commercial, economic, and political relations. The U.S.-Cuba Trade and Economic Council does not take positions with respect to U.S.- Cuba political relations. The organization is a private, … Read more
On December 17, 2014, President Obama announced the beginning of a normalization process between the United States of America and Cuba, starting a new chapter in U.S.-Cuba relations. A major step in this process was reached on July 20, 2015, when Cuba and the United States reopened their respective embassies and reestablished diplomatic relations. U.S. … Read more
Trade and commerce are the focus in Obama’s most recent relaxing of rules pertaining to doing business in Cuba. Bolstering trade and commercial opportunities and the growth of Cuba’s private sector are the main priorities of the Obama administration’s plan to make his changes “irreversible.” Export-related transactions the U.S Office of Foreign Asset Control (OFAC) … Read more
Cuba made its first US soyoil purchase in more than five years this month with the purchase of 7,600 tonnes, according to the US Department of Agriculture. The transaction made headlines because the trend in exports from the US to Cuba has been declining since it peaked in 2008. Also, drought and heavy rains in … Read more
President Obama’s announcement of a historic reconciliation with Cuba contained a vexing proviso that he does not have authority to lift the embargo because it is codified in legislation by Congress. While the embargo was first imposed in the early 1960s under the authority of the Foreign Assistance Act of 1961 and the Trading with … Read more
