House Bill Would Lift Certain Restrictions on US Exports to Cuba
A House Democrat and Republican recently introduced a bill that would modify financing of certain U.S. exports to Cuba, allowing exporters to enter into contracts with certain Cuban agricultural businesses. The bill, introduced March 27 by Reps. Rick Crawford, R-Ark., and Cheri Bustos, D-Ill., would amend a section in the Trade Sanctions Reform and Export Enhancement Act of 2000 to allow U.S. “investment” in Cuba, according to the bill. The bill defines investment as purchasing a share of ownership of an agricultural business, sharing in profits of a business or entering into a contract to “sell goods, services, or technology relating to the agricultural business.” Currently, U.S. agricultural exporters are not allowed to “extend credit” to Cuban buyers, the bill said, causing exports to Cuba to decline and placing U.S. exporters at a “key disadvantage relative to other exporting countries.”
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If passed, the bill would only permit U.S. exporters to enter into contracts with Cuban businesses that have no relation to the Cuban government and do not “traffic in the property of persons subject to the jurisdiction of the United States that was confiscated by the Cuban Government on or after January 1, 1959.” The bill was referred to the House Committee on Agriculture, Committee on Financial Services and Committee on Foreign Affairs.