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Trump clamps down on business with Cuba

Friday, June 16, 2017 - 01:17

President Donald Trump ordered tighter restrictions on Americans traveling to Cuba and a clampdown on U.S. business dealings with the island’s military. Fred Katayama reports.

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President Donald Trump is clamping down on business with Cuba's military. He banned any U.S. dealings with the Cuban Armed Forces Business Enterprises Group. That government conglomerate that pulls the strings in all sectors of the economy. Trump also ordered tighter restrictions on Americans traveling to Cuba as tourists. But he did not completely nix his predecessor President Barack Obama's deal with the island. For instance, Trump kept direct U.S.-Cuba commercial flights and cruise-ship travel. And he didn't bring back limits on Cuba's rum and cigars that Americans can bring home for personal use. One White House official told Reuters, the administration has no intention of "disrupting" existing business ventures. Manhattan Institute's Diana Furchtgott-Roth says Trump's decision is more about human rights than money. (SOUNDBITE) DIANA FURCHTGOTT-ROTH, SENIOR FELLOW AT THE MANHATTAN INSTITUTE, (ENGLISH) SAYING: "In a short run, it might be bad for businesses, but, in the long run, it will be good for business because pressure on human rights issues will encourage Cuba to open up and become more free-market oriented, and that will result in more businesses being able to do business with Cuba." Trump stopped short of breaking diplomatic relations restored in 2015 after more than five decades of hostilities.

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Trump clamps down on business with Cuba

Friday, June 16, 2017 - 01:17