It has been almost 56 years since President
Dwight D. Eisenhowers State Department imposed the first trade embargo on Cuba
on Oct. 19, 1960. The original embargo covered all U.S. exports to Cuba except
for medicine and some foods. President John F. Kennedy expanded the embargo to
cover U.S. imports from Cuba and made it permanent on Feb. 7, 1962. In the
first year of Castros regime, U.S. trade with Cuba decreased by 20%. At that
time Cuba bought 70% of its foreign goods from the U.S. The United States embargo
against Cuba was a commercial, economic, and financial embargo imposed by the
United States on Cuba. In March 2016 the Obama administration restored
diplomatic ties with Cuba and lifted the embargo.
Begin a formal project by researching and
identifying trade issues from lifting the embargo. Also, research and identify
how American industry will benefit from these new trade relat
ions. For this
week, concentrate your efforts on researching what industries were impacted
when the trade embargo was enacted in 1960. How did that impact affect the U.S.
GDP and its economy? This formal project will be due in the last week of the
course
This term you have been researching how the Cuban Trade Embargo has impacted the United States.
Concentrate your efforts on how the trade embargo affected the U.S. tourism industry.
Concentrate your efforts on the concept of government actions. What did this embargo cost the U.S taxpayers?
Concentrate your efforts on how U.S industries will be affected by lifting the embargo.
Concentrate your efforts on researching how lifting the embargo will impact the U.S. economy and GDP.
Now it is time to assemble your weekly research into a research paper. The last portion of your paper should be an analysis of your research. What did you find out?