Most American companies won’t do business in Cuba for a long time
Last week Cuba hosted Barack Obama, the first US President to pay visit to this island nation since America imposed an economic embargo in 1962.
The given visit is an undoubtedly cornerstone in Cuba’s everlasting process of opening to America. However, for normalizing economic ties between the two countries just one visit isn’t enough.
Unfortunately, the vast majority of American businesses don’t have an opportunity to trade with Cuba due to the embargo firmly held in place by corresponding legislation acts. The future of this restriction will solely depend on the overall political mood in America. Both houses of the US congress run by the Republican opposition would have to pass a series of legislation undoing provisions of the last acts to complete it. That’s unlikely to take place under the current president administration, which won’t be able to come to a compromise urgently required to pass quite controversial legislation during elections.
Therefore, the major task of improving economic relations with the island will be automatically delegated to the next US president and it will require several extra rounds of negotiations before the subject of abolishing embargo arises for serious discussion.