Tags: senate | cuba | farm | trade

Senate Moves to Boost Farm Trade with Cuba

Sunday, 13 Dec 2009 07:21 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON (Reuters) – The Senate approved a provision on Sunday to facilitate cash sales of U.S. farm goods to Cuba, overturning restrictions by former President George W. Bush's administration, a senator said.

"By allowing cash-based sales of our world-class U.S. goods to Cuba, we restore congressional intent and make it easier for American producers to export during a critical time for our economy," Senate Finance Committee Chairman Max Baucus said.

The move follows efforts by President Barack Obama to improve relations with Communist-run Cuba. Obama says he wants to "recast" ties and has announced a slight relaxation of the five-decades old U.S. trade embargo on Havana.

The farm goods provision was added to legislation to fund dozens of federal agencies for the rest of the 2010 fiscal year, which ends September 30, 2010.

The U.S. House of Representatives has already approved the massive spending bill, which Obama is expected to sign into law on Friday.

U.S. farm groups, eager to increase sales to a market about 90 miles from the United States, have been at the forefront of efforts to ease the trade embargo on Cuba.

Congress authorized cash sales of U.S. farm goods to Cuba in 2000 under the Trade Sanctions Reform and Export Enhancement Act. But the Bush administration issued rules in 2005 requiring Cuba to pay for the goods through third-country banks before the products left port.

Baucus, a Democrat from Montana, which has a significant farming sector, said the new provision would allow Cuban buyers to wire payments directly to the United States while the goods are in transit, as Congress intended in 2000.

Exports of U.S. crops, meats and farm products totaled $707 million in 2008. The U.S. International Trade Commission has estimated that amount could grow by hundreds of millions of dollars if all restrictions on farm trade were removed.


© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ex-Obama Counsel Ruemmler Exits Attorney General Consideration

Friday, 24 Oct 2014 17:11 PM

Former White House Counsel Kathryn Ruemmler took herself out of the running to become the next U.S. attorney general, pa . . .

Travelers to New York Area Airports May Face Quarantine

Friday, 24 Oct 2014 16:58 PM

New York and New Jersey will bolster screening for Ebola beyond federal requirements for travelers from West Africa arri . . .

Foundation Run by Kerry's Wife Funds Anti-Israel Eatery

Friday, 24 Oct 2014 16:58 PM

A foundation chaired by Teresa Heinz Kerry, wife of Secretary of State John Kerry, is funding a radical anti-Israel, ant . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved