The Department of Commerce's International Trade Commission has started a study on how U.S. agricultural exports to Cuba are affected by various restrictions on trade and travel: ITC TO INVESTIGATE ECONOMIC IMPACT OF U.S. TRADE AND TRAVEL RESTRICTIONS WITH CUBA ON U.S. AGRICULTURE EXPORTS (Press release, April 2):
The U.S. International Trade Commission (ITC or Commission) has launched an investigation to report on the effects of U.S. trade and travel restrictions with Cuba on U.S. exports of agricultural, fish, and forest products to that country. U.S. exports to Cuba of these products amounted to $337 million in 2006.
The investigation, U.S. Agricultural Sales to Cuba: Certain Economic Effects of U.S. Restrictions, was requested by the U.S. Senate Committee on Finance in a letter received on March 16, 2007.
In its request letter, the Committee noted that it wished to gain a better understanding of the economic effects on U.S. agricultural sales to Cuba of statutory and administrative restrictions related to trade with and travel to Cuba by U.S. citizens.
As requested, the ITC, an independent, nonpartisan, factfinding federal agency, will provide an overview of recent and current trends in Cuban purchases of agricultural, fish and forestry products, including identification of major supplying countries, products, and market segments; analyze the effects that U.S. restrictions relating to export financing terms and travel to Cuba by U.S. citizens may have had or currently have on Cuban purchases of U.S. agricultural, fish, and forestry products; and estimate U.S. sales of agricultural, fish, and forestry products under three scenarios: (i) U.S. restrictions affecting agricultural exports are removed; (ii) U.S. restrictions on travel to Cuba by U.S. citizens are lifted; and (iii) U.S. restrictions affecting agricultural exports are removed and U.S. restrictions on travel to Cuba by U.S. citizens are lifted.
The ITC will submit its report to the Committee by June 29, 2007.
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