Chairman Of U.S. Senate Finance Committee Introduces Legislation To "Normalize Trade Relations" With Cuba
/“(620)(a)(1) No assistance shall be furnished under this Act to the present government of Cuba. As an additional means of implementing and carrying into effect the policy of the preceding sentence, the President is authorized to establish and maintain a total embargo upon all trade between the United States and Cuba. (2) 867 Except as may be deemed necessary by the President in the interest of the United States, no assistance shall be furnished under this Act to any government of Cuba, nor shall Cuba be entitled to receive any quota authorizing the importation of Cuban sugar into the United States or to receive any other benefit under any law of the United States, until the President determines that such government has taken appropriate steps according to international law standards to return to United States citizens, and to entities not less than 50 per centum beneficially owned by United States citizens, or to provide equitable compensation to such citizens and entities for property taken from such citizens and entities on or after January 1, 1959, by the Government of Cuba.”
United States Senate
Washington DC
4 February 2021
Wyden Introduces Bill to End Cuba Embargo and Establish Normal Trade Relations
Washington, D.C. – [4 February 2021] Senate Finance Committee Chair Ron Wyden, D-Ore., last night introduced the U.S.-Cuba Trade Act of 2021 to repeal outdated sanctions on Cuba and establish normal trade relations with the island nation.
“Our nation’s embargo on Cuba is an artifact from the 1960s. To continue this outdated, harmful policy of isolation would be a failure of American leadership. While Trump increased tensions with Cuba during his disastrous time in office, I am optimistic about President Biden’s new diplomatic course,” Wyden said. “Regardless, Congress has a moral and economic obligation to the American people to improve U.S.-Cuban relations as swiftly and safely as possible.”
The U.S.-Cuba Trade Act of 2021 would repeal the major statutes that codify sanctions against Cuba, including the Helms-Burton Act and the Cuban Democracy Act, as well as other provisions that affect trade, investment and travel with Cuba. It would also establish normal trade relations with the country. Joining Wyden on the bill were U.S. Sens. Patrick Leahy, D-Vt., Richard Durbin, D-Ill., and Jeff Merkley, D-Ore.
