This bill would remove many U.S. statutory restrictions on trade, travel, and financial transactions with Cuba. It repeals and changes specified laws that have limited exports, imports, and other dealings with Cuba. It allows U.S. common carriers to install and repair telecommunications equipment in Cuba and to provide services between the two countries. It states that U.S. citizens and residents may travel to and from Cuba and engage in ordinary transactions related to travel. The bill directs the President to seek negotiations with Cuba to settle U.S. nationals' property claims and to seek protection of internationally recognized human rights. It also extends nondiscriminatory (normal) trade treatment to Cuban products and removes Cuba from certain U.S. trade-restriction provisions. Most changes take effect 60 days after enactment; the trade-treatment changes apply 15 days after enactment, and the tax-reporting change applies to determinations made after enactment.
If enacted, the bill would: repeal many existing U.S. trade and embargo provisions that apply to Cuba; allow U.S. telecommunications companies to work in Cuba; let U.S. citizens and residents travel to Cuba and use ordinary travel-related banking; remove limits on the amount of remittances the Treasury can set (while not blocking criminal prosecutions for money laundering); and give Cuban goods normal trade treatment under U.S. tariff rules. The President would be asked to negotiate property claims and human rights protections and must report to Congress on trade relations within 18 months.
No publicly available information.
The bill and its sponsors express that normalizing trade relations with Cuba can promote democratic change and economic reform, and they direct the United States to move toward ordinary trade treatment for Cuban products.
No publicly available information.