Skip to content
Subscribe

Is The U.S. Close to Ending the Cuban Embargo?

Published:

For the first time in 15 years, the president of the U.S. Chamber of Commerce met with Cuban dictator Raúl Castro last month to analyze investment possibilities and the reforms implemented by the regime. Thomas Donohue says he went to Cuba to "support" the opening of the island.

The U.S. Chamber of Commerce is one of the open lobbyists that push for the end of all trade restrictions between the United States and the Caribbean island. Cargill, the largest grain trader in the world, also supports an end to the embargo.

These big players, combined with a consensus of big American think tanks -- such as the American Enterprise Institute -- that the embargo should come to an end because "it did not work," as well as the support of U.S. President Barack Obama, generate a major expectation that this is likely to happen.

The only impediment now, according to specialists, is Congress.

"One should read the Helms Burton Bill of 1996 as well as the Toricelli Act of 1992. Only an act of Congress can lift the used policies toward the island," Nelson Valdes, a professor emeritus at the University of New Mexico and an expert on the relationship between the U.S. and Cuba, explained during an interview for IVN.Most Americans already opposed the embargo, and younger Cubans living in the United States now do as well. According to a study from Florida International University,

62 percent of Cuban-Americans between 18-29 oppose continuing the embargo that the United States has imposed on Cuba since 1962.

Fifty-eight percent of Cubans who came to the United States since 1995 share this opinion, according to the survey. It is the seventh that FIU has taken since 1991.

According to Gustavo Grisa, associate of Agência Futuro and an economist with an MBA from Thunderbird School of Global Management, U.S. companies aim to have a strategic position for the next 20 to 30 years as they anticipate an end to the embargo and institutional change. Grisa states that Cuba offers major economic potential because of its location.

"The great economic potential in Cuba is its logistics and potential as a trade hub and services to the U.S., Central America, and North America, 90 miles away from the coast of the United States," Grisa said in an interview. "Hypothetically, Cuba could be an Ibero-American economic enclave adjacent to North America in a scenario of gradual economic liberalization, which is what seems to be the desire of its government and elite."

Nelson Valdes adds that the logistics could be helpful for deflation in the United States.

"Agricultural companies still cannot buy from Cuba, nor invest. Agricultural companies know that they could buy oranges as well as bananas that they could then be sold in winter time rather than go all the way to Ecuador to secure the supplies," he responded when asked about the possible interests of Cargill and other agricultural giants.

The criticism on the issue, on the other hand, is still big.Humberto Fontova, one of the most influential Cubans in the United States, believes that lifting the embargo would be a very bad measure for the future of Cuba. He deems that this would strengthen state-run companies and, therefore, the Cuban regime.

Fontova points out that the trade restrictions are circumvented and the U.S./Cuba trade is bigger now than it was in 1959. He believes that the regime survived so far because of significant support from old allies like the USSR -- more recently by Venezuela -- and trade with other nations like Spain, Brazil, and Canada.

"For three decades, the Soviet Union was forced to pump the equivalent of almost ten Marshall Plans," Fontova writes in his new book, The Longest Romance: The Mainstream Media and Fidel Castro.

Recently, Cuba inaugurated the new Mariel port, which was constructed with a $682 million loan from Brazil's National Social and Economic Development Bank (BNDES). The port is expected to replace Havana as Cuba's most important trade hub and may be a major competitor to the Panama Canal.

The economic potential of the new port may have a major impact on the future of U.S. policy toward the Castro regime and Cuba.

Photo retrieved from State.gov.

Adhere to the IVN etiquette

By posting a comment, you agree to adhere to our etiquette rules: No partisan attacks, no personal attacks, substantiate your sources, no self-promotion.

Contact IVN

Questions about this article or our coverage? Send us a message. A free IVN member account is required.

Message sent

Thanks, we’ll review it and get back to you if needed.

Message not sent

Sorry, something went wrong. Please try again.

Sign in to send a message

Messages are tied to your IVN member account. Signing in is free and takes a few seconds.

Contact IVN

Questions about this article or our coverage? Send us a message. A free IVN member account is required.

Message sent

Thanks, we’ll review it and get back to you if needed.

Message not sent

Sorry, something went wrong. Please try again.

Sign in to send a message

Messages are tied to your IVN member account. Signing in is free and takes a few seconds.

Republish this article

Republishing guidelines

Republish IVN articles for free. Independent Voter News articles may be republished online or in print under a Creative Commons BY-NC-ND 4.0 license, on these terms:

  1. Credit the author and IVN. Keep the byline ("By Author Name, Independent Voter News") and the attribution note at the end, which links to the original.
  2. Keep the meaning. You may update time and place references and apply your house style. You may trim for length, as long as the cuts don't change the meaning or misrepresent the author. Keep the headline. Mark any additions as your own (for example "Additional reporting by ...").
  3. Translations are welcome. Translate faithfully, add "Translated from English by [your outlet]", and tell us at editor@ivn.us.
  4. Keep the links, including the link to the original article.
  5. Keep the tracking image. The HTML includes a 1-pixel image that counts readers on your page. It collects no personal information.
  6. Photos and illustrations. Images credited to IVN may be used with this article only. Images credited to others (AP, Getty, Unsplash, Wikimedia and so on) stay under their owners' terms. Secure the rights or switch "Include images" off.
  7. Don't sell it. You can't sell our articles or sell ads specifically against them. Your normal site advertising is fine.
  8. No implied endorsement. Don't suggest that IVN or the author endorses you, your candidates or your causes, or that donations to you support IVN.
  9. Keep labels. Opinion or analysis pieces keep that label.
  10. Point search engines to the original. Where your CMS allows, set the canonical URL to the original IVN article.
  11. No bulk or automated republishing, and don't submit our articles to aggregators (Apple News, Google News, MSN) as your own.
  12. Corrections and removals. Update your copy when we correct it, and remove it promptly if we ask. We'll contact you at the email you give us.
  13. Questions or print republication: editor@ivn.us.

IVN staff: fill in who you're inviting above, then create the invite.

Preparing the article

Is The U.S. Close to Ending the Cuban Embargo?

Choose a format
  • HTML
  • Email HTML
  • Markdown
  • Formatted (.docx)
  • Plain text
  • WordPress blocks
  • PDF
Choose a platform

Photos credited to others need their owners' permission.

To for

Republishing somewhere else? Questions? editor@ivn.us