Benefits in lifting the United States embargo on Cuba.
Jose A. Fontanez
Professor Brett Larson
24 February 2015
The United States of America, and Cuba have had a strained relationship to say the least.
The United States has gone through nine sitting Presidents since the imposed embargo, none
taking any action regarding the embargo. That has all changed. Since his first term in office,
President Barack Obama, and his administration have taken action in improving the severed
relationship between the United States, and Cuba. Starting in 2009, the Commander in Chief
made the most notable change in over half a century with the United States policy toward Cuba,
allowing telecommunication companies to obtain licenses in Cuba which would generate an
increase in accessibility to cellphones, and satellite TV. Aside from this, the President has also
decided to use his executive power to revoke the strict restrictions implemented by his
predecessors George W. Bush and Bill Clinton, and is allowing Cuban-Americans to visit the
island as often as thy please, as well as the opportunity to send money and gifts. Most recently, in
December of 2014, President Obama, and President Castro came to an historic agreement,
agreeing that the two countries would restore full diplomatic ties with each other, along with
talks of possibly lifting the embargo that was imposed on Cuba in 1960 by President John F.
Kennedy over half a century ago.
Now, there is no doubt that these talks, and agreements are remarkable. We’re talking
about over half a century of isolation, and sanctions imposed on Cuba. But why are we now
deciding to do this? What does the United States stand to gain from lifting the imposed embargo
There are a multitude of benefits for the United States in lifting the imposed embargo on
Cuba. Probably the most important benefit would be an improved economy. Something that
everyone is interested in, and something that is very important. Before the embargo was imposed
on Cuba, the economy of the United State was booming, also known as the “Fifties Boom.” For
the United States, Cuba was a gold mine. It was the Las Vegas of its time with its high end
shopping, casinos, hotels, restaurants, and nightlife. In the late fifties, the United States economy
contained “90 percent of Cuban mines, 80 percent of its public utilities, 50 percent of its
railways, 40 percent of its sugar production and 25 percent of its bank deposits—some $1 billion
in total.” Now, ever since the embargo has been imposed on Cuba, the Chamber of Commerce 1
claims that “it costs the United States $1.2 billion annually in lost sales of exports.” That is $1.2 2
billion the United States could be making every year instead of losing every year. One study,
conducted by the Cuba Policy Foundation states that the “annual cost to the US economy could
be as high as $4.84 billion in agricultural exports and related economic output.” Aside from 3
money, a study conducted in...