ITC to Study Economic Effects of U.S. Trade Embargo on Cuba
The International Trade Commission announced Jan. 30 that it has launched an investigation to examine the economic effects on exports of U.S. goods and services, including digitally traded goods and services, of statutory and administrative restrictions related to trade with and travel to Cuba by U.S. citizens. As requested by Senate Finance Committee Ranking Member Ron Wyden, D-Ore., the ITC will provide an overview of recent and current trends in Cuban imports of goods and services, including from the U.S. , and an analysis of U.S. restrictions affecting such purchases. Specifically, the ITC will submit by Sept. 15 a report that includes the following.
- an overview of Cuba’s imports of goods and services from 2005 to the present, including identification of major supplying countries, products and market segments
- a description of how U.S. restrictions on trade, including those relating to export financing terms and travel to Cuba by U.S. citizens, affect Cuban imports of U.S. goods and services
- for sectors where the impact is likely to be significant, a qualitative and quantitative estimate of U.S. exports of goods and services to Cuba in the event that statutory, regulatory or other trade restrictions on U.S. exports of goods and services, as well as travel to Cuba by U.S. citizens, are lifted
- to the extent possible, state-specific analysis of the impacts described above
The ITC will hold a public hearing in connection with this investigation on March 24. Requests to appear at this hearing should be filed no later than March 10. Written submissions for the record of this investigation are due by April 15.