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Article: Trade with Cuba? ... could be.(economic sanctions against Cuba recently relaxed by United States)(Brief Article)(Statistical Data Included)
- Article from:
- Frozen Food Digest
- Article date:
- February 1, 2001
CopyrightCOPYRIGHT 2001 Frozen Food Digest, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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U.S. economic sanctions against Cuba were recently relaxed, allowing U.S. food and agricultural sales to the island that's only 90 miles from Florida. The legislation does, however, include strict licensing and financial provisions that exporters must follow.
Cuba's Economic Collapse
The U.S. imposed its first trade and financial embargo against Cuba in 1962. For Cuba, it led to increased import costs, lower levels of production, higher food prices, chronic food shortages, and a heavy dependence on Soviet support. With the 1991 dissolution of the Soviet Union, Cuba lost its major market and primary source of foreign assistance. As a result, the Cuban ...