DC Continues To Discuss Cuba, Removing Embargo

House and Senate bills continue the stalemate over easing U.S. trade restrictions on Cuba, and ultimately lifting the trade embargo.  The Senate’s Financial Services bill is expected to move out of committee this week.  It would remove some restrictions on financing for U.S. farm exports to Cuba and lift the travel ban.  However, the House version of the bill would impose new restrictions instead of easing existing ones.  American Farm Bureau Federation trade adviser Dave Salmonsen said after President Obama’s Cuba visit and executive actions to provide some relief, the remaining issues that need to be addressed by Congress.

“That inhibit full agriculture trade with Cuba are tied up with the Embargo, with the lack of having direct financing banking relationships.  Some of which is attempting to be addressed by regulations but really can’t open fully until the Embargo is gone.”

The White House recently eased banking rules for Cuba, allowing transactions involving U.S. banks, but only through third country banks.  The Treasury Department years ago lifted ‘cash-in-advance’ restrictions on agriculture sales to Cuba.

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