Agricultural News
Move on Cuba Issue Will Boost Trade
Tue, 28 Sep 2010 17:34:28 CDT
An Iowa State University analysis indicates that U.S. pork exports to Cuba will more than triple if restrictions on travel and export financing for products going to the Caribbean island nation are lifted. Economist Dermot Hayes estimates that U.S. pork exports would increase by 28.2-million dollars once the travel and financing restrictions on Cuba are lifted. Over the past year, the United States shipped about $13.4 million of pork to Cuba.
The National Pork Producers Council is urging House lawmakers to take up legislation - H.R. 4645 - that would let U.S. citizens travel to Cuba and allow direct transfers of funds from Cuban to U.S. financial institutions for products authorized for sale under the Trade Sanctions Reform and Export Enhancement Act of 2000. That law granted exceptions for agricultural and medical products to the unilateral trade embargo the United States placed on Cuba in 1960.
The House Foreign Affairs Committee is expected to mark up the bill today. In a letter, NPPC asked the panel’s members to support the bill and to oppose any amendments to it. Senate companion legislation is pending action in the Finance Committee.
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