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pampango

(24,692 posts)
Tue Jan 26, 2016, 12:38 PM Jan 2016

U.S. approves more business trade with Cuba

Source: USA Today

U.S. businesses will have more freedom to sell products and services directly to the Cuban government under a new set of regulations the U.S. government unveiled Tuesday.

In the 13 months since President Obama's December 2014 announcement that the Cold War foes would reestablish diplomatic relations, his administration has made it easier for U.S. companies to sell items directly to Cuban entrepreneurs to help them gain some economic independence from the communist government.

The new regulations set to go in effect Wednesday would allow more sales to Cuban government entitites so long as the transactions "provide goods and services to the Cuban people."

The announcement is sure to prompt new protests from critics of Obama's opening with Cuba. Members of Congress and anti-Castro activists in Miami complain that Obama's moves to strengthen ties will only bolster a communist regime that has controlled the island and suppressed personal freedoms since taking charge in 1959.

Read more: http://www.usatoday.com/story/money/business/2016/01/26/cuba-us-ease-trade-restrictions-sales-to-government/79337896/

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U.S. approves more business trade with Cuba (Original Post) pampango Jan 2016 OP
U.S. Eases Restrictions on Financing Exports to Cuba bemildred Jan 2016 #1
Let's get down to brass tacks Rafale Jan 2016 #2

bemildred

(90,061 posts)
1. U.S. Eases Restrictions on Financing Exports to Cuba
Tue Jan 26, 2016, 12:43 PM
Jan 2016

WASHINGTON — The Obama administration announced on Tuesday that it would lift restrictions on financing American exports to Cuba, removing a major impediment to commerce between the United States and the island nation as President Obama pressed forward with a thaw in relations.

New rules that take effect on Wednesday will allow United States banks to provide direct financing for the export of any product other than agricultural commodities, which are still walled off under the trade embargo. Until now, American products shipped to Cuba had to be paid for in advance in cash or routed through a third country – a costly and burdensome process.

The moves are the latest evidence that Mr. Obama, who is moving to tear down Cold War-era barriers between the United States and Cuba, is determined to do as much as possible to normalize relations before he leaves office. Administration officials said they would help bring about Mr. Obama’s goal of opening Cuba’s economy and government by exposing the country to more American goods, people and ideas.

The changes, said Jacob J. Lew, the Treasury secretary, “build on successive actions over the last year and send a clear message to the world: the United States is committed to empowering and enabling economic advancements for the Cuban people.”

http://www.nytimes.com/2016/01/27/world/americas/cuba-us-trade-embargo-exports.html

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