Before leaving office Barack Obama partially opened up some trade with Cuba. What are the possible...
Before leaving office Barack Obama partially opened up some trade with Cuba. What are the possible positive and negative implications of completely opening up free trade in Cuba?
Research and report on the possible negative and positive impact of opening up trade on both Cuba and the United States.
Homework Answers
Positive implications-
1. The United States will now have a new member (Cuba) of its large of food products.
2. The people in the United States will be able to taste the high-quality Cigars available in Cuba.
3. Tourism in Cuba will increase due to the embargo and travel restrictions. This will benefit the Cuban economy.
Negative implications-
1. The first and foremost issue is that free trade will not be a big advantage to Cuba, rather the US will benefit more from it.
2. Different companies in the US will gain another market, while Cuba will be unable to grasp the opportunity of a new market.
3. Cuba will be highly dependent on the FDI from new companies and it will be eventually become dependent on the USA.
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