The Obama administration announced Tuesday that it will ease major trade restrictions with Cuba. This is another attempt by President Barack Obama to bypass the restrictions of the economic embargo set by the US Congress.
The New York Times reported that the new rule, effective on Wednesday, will loosen the restrictions on shipping various products to Cuba, from agricultural equipment to art supplies. The strict current rule requires Cuban companies to pay in advance through another country the American products that they import. The new guidelines will make remove these expensive and inconvenient processes.
According to BCC, the lifting of major trade restrictions mean companies from America can now lend Cuban businesses money. They can also invest money in infrastructure projects. The new rule will make it easier for US movie studios to shoot their films in Cuba.
The US and Cuba ended the more than 50 years of enmity brought by the Cold War-era embargo. They resent restored their relations in 2015.
The restricted items were banned from because the American government doesn't want the Communist-Cuban government to benefit from them, due to the Cold-War era five decades ago. These items are textbooks, sanitation equipment, construction vehicles, and more. Now, the new rule will make it easier for both countries to do business.
Supporters of the easing of trade restrictions said this measure is the best way to improve the Island. In a report by USA Today, Commerce Secretary Penny Pritzker said, "These regulatory changes will... facilitate exports that will help strengthen civil society in Cuba and enhance communications to, from and among the Cuban people."
However, these new rules didn't go smoothly without drawing criticisms. Republican presidential candidate Senator Marco Rubio, cticized Obama's new rules, saying it is one-sided and it has no other aim but to empower the Cuban monopolise and enterprises run by its communist-government. It is ironic, however, because Sen. Rubio of Florida is a Cuban-American.
