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Senators Relaunch Bid To End The Cuba Trade Embargo
Law360 (February 5, 2021, 10:47 PM EST) The chair of the Senate Finance Committee introduced a bill Friday that aims to normalize the U.S. trade relationship with Cuba in one shot, repealing the 1961 trade embargo and protecting areas targeted by Trump administration regulations.
The 12-page bill, titled the United States-Cuba Trade Act of 2021, was authored by Sen. Ron Wyden, D-Ore., with backing from three Democratic co-sponsors. If passed, the bill would delete Section 620(a) of the Foreign Assistance Act of 1961, and press reset on presidential actions addressing Cuba under the Trading With the Enemy Act, the legislation underpinning the Cuban Assets Control Regulations. Those regulations.
Background
The decision was the culmination of Trump s hardline stance on Cuba.
The Trump administration imposed new restrictions on travel to Cuba from the US in 2019, disallowing people-to-people educational group travel, one of the most popular exemptions to the ban on US tourism to Cuba.
The US also blacklisted Fincimex last June a Cuban military-controlled firm that processes remittances for Western Union and banned US companies from dealing with the company. This move was designed to eliminate most remittances from, in particular, Cuban Americans to Cubans.
In same month, it ordered Marriott International, at that time the only US hotel company in Cuba, to shut down its Four Points Sheraton hotel in Havana by August 31. Marriott was also prevented from opening other planned hotels. Marriott first entered Cuba in 2016, following permission from the US government. Its licence was reviewed and renewed in 2018.
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