Con

The embargo harms the US economy.

The US Chamber of Commerce opposes the embargo, saying that it costs the United States $1.2 billion annually in lost sales of exports. [19]

A study by the Cuba Policy Foundation, a nonprofit founded by former US diplomats, estimated that the annual cost to the US economy could be as high as $4.84 billion in agricultural exports and related economic output. “If the embargo were lifted, the average American farmer would feel a difference in his or her life within two to three years,” the study’s author said. [20]

A Mar. 2010 study by Texas A&M University calculated that removing the restrictions on agricultural exports and travel to Cuba could create as many as 6,000 jobs in the US. [19]

Nine US governors released a letter on Oct. 14, 2015 urging Congress to lift the embargo, which stated: “Foreign competitors such as Canada, Brazil and the European Union are increasingly taking market share from U.S. industry [in Cuba], as these countries do not face the same restrictions on financing… Ending the embargo will create jobs here at home, especially in rural America, and will create new opportunities for U.S. agriculture.” [98]

Read More