Bipartisan Bill to Lift Cuba Embargo Introduced
Sen. Amy Klobuchar, D-Minn., along with two other Democrats and Kansas' two Republican senators, reintroduced a bill to lift the Cuba trade embargo. The bill also would allow unrestricted shipping between U.S. and Cuban ports and allow transactions between the two countries' businesses.
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“By ending the trade embargo with Cuba once and for all, our bipartisan legislation will turn the page on the failed policy of isolation while creating a new export market and generating economic opportunities for American businesses," Klobuchar said in a press release last week.
Sen. Jerry Moran, R-Kan., said, "The unilateral trade embargo on Cuba blocks our own farmers, ranchers and manufacturers from selling into a market only 90 miles from our shoreline, while foreign competitors benefit at our expense. This legislation will expand market opportunities for U.S. producers by allowing them to compete on a level playing field with other countries."
If the embargo is lifted, the U.S. International Trade Commission estimated, wheat, rice, corn and soybean exports could increase within five years to about $800 million, more than twice current sales, the press release said.