U.S.-Cuba Trade and Economic Council, Inc. New York, New York Telephone (917) 453-6726 • E-mail:
[email protected] Internet: http://www.cubatrade.org • Twitter: @CubaCouncil Facebook: www.facebook.com/uscubatradeandeconomiccouncil LinkedIn: www.linkedin.com/company/u-s--cuba-trade-and-economic-council-inc- Inc. Magazine New York, New York 20 June 2017 Trump's Cuba Moves 'An Epic Disaster' for Entrepreneurs Renewed ties were supposed to lead to economic progress. And now it's all at a standstill. By David Whitford Editor-at-large CREDIT: Getty Images Last week, hopeful belief collided with hard fact. President Trump, as he promised he would during the campaign, began dismantling former President Obama's historic overture to Cuba. Before an adoring crowd in Miami's Little Havana, the U.S. President attacked his predecessor's "terrible and misguided deal with the Castro regime," promising that, "We will enforce the ban on tourism. We will enforce the embargo," and otherwise set about dismantling his predecessor's legacy. A particular target of Trump's new policy: U.S. dealings with companies tied to Cuba's military, which covers broad swathes of the tourist industry from nightclubs to hotels and resorts. This wasn't supposed to happen. At the end of 2014, Obama signed an executive order moving to officially open ties with the island nation; consequently all signs were pointing to a long-awaited thaw. Among other things, the U.S. would establish a diplomatic outpost in the country, Cuban businesses could export to the U.S. and U.S. companies could enter the Cuban market.