President Obama has created a lot of buzz about opening the Cuban market to Americans, but it is a long way from buzz to profits. On December 17, 2014, the President and various members of his administration announced sweeping changes in the 50-plus year economic embargo against Cuba. Normalization of diplomatic relations, increased travel, the ability to use U.S. debit and credit cards, increased commerce, and a number of other changes almost makes one want to break out a Cuban cigar right here in the nation’s capital and start ginning (or rumming, to create a word) up advertisements for the Cuban market.
But that would be premature given what the “buzz” currently allows. Lighting up the Cubano is still illegal (indeed, even having it in the U.S. is illegal). Although U.S. law currently allows limited commercial exports to Cuba (mostly agricultural goods and medicines), and the President has proposed expanding trade, a number of major hurdles stand in the way of full scale trade: Continue Reading