Stepping backwards is going to hurt. Big time.

Engage Cuba, the Washington, D.C. advocacy group that supports the removal of the economic blockade against Cuba released a report that a Trump reversal of former President Obama’s policies of advancement to Cuba would cost the U.S. economy about $6.6 Billion with a loss of over 12,000 jobs.  All told, there are significant risks to a backwards move by President Trump. Engage Cuba has estimated that travel, agriculture, shipping and manufacturing industries will be negatively effected by any reversal of Obama’s policy changes with Cuba. American companies such as Google, General Electric, Caterpillar, American Airlines, AT&T, Fedex, IDT Corp, Sprint, JetBlue, Starwood Hotels and Resorts – the list is a long one – all negotiated deals with Cuba in good faith. And what about the existing agreements between the United States and Cuba?  Health protocols, air and maritime search and rescue, fighting international crime, terrorism, preventing and containing oil spills, Cuban medicines and medical research?  Will all these be for nought?Advertisement. Scroll to continue reading. And what about Americans right to travel to an island that’s been classified as the “forbidden fruit” for almost 60 years?  Already tens of thousands have visited Cuba, whether legally or illegally via third countries…

TO READ THE FULL STORY:

Unbiased reporting on economic news and business developments in Cuba by industry sector