U.S. Companies Clamor to Do Business in New Cuban Market

December 19, 2014 1:44 PM

7 0

U.S. Companies Clamor to Do Business in New Cuban Market

The Trade Sanctions Reform and Export Enhancement Act of 2000 allowed the sale of unprocessed agricultural products and raw forestry materials by American producers to Cuba, though with strict restrictions. Producers needed to be paid in cash in advance, and payments needed to be funneled through a third-party bank in another country, typically one in Europe.

Last year, the United States exported $359 million worth of goods to Cuba, compared with a high of $711 million in 2008, according to American government statistics.

Read more

To category page

Loading...