April 18,2016

Press Contact:

Keith Chu (202) 224-3789 

Wyden: Report Shows Opening Cuba Trade Creates Major Economic Opportunities

WASHINGTON Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today praised a new study showing significant economic opportunities created by relaxing restrictions on trade with Cuba. Wyden requested the study from the International Trade Commission in 2014, when he chaired the Senate Committee on Finance.

“When the President announced that the United States was on a course to normalize relations with Cuba in December of 2014, I said that trade and engagement are liberalizing forces to help bring about much-needed change in Cuba, which is why I requested this study,” Wyden said.   

"This report confirms a commonsense proposition: that there are significant economic opportunities for American producers if restrictions on U.S. trade with Cuba are eased. In particular there are substantial opportunities for American agriculture, including dairy and wheat from the Pacific Northwest, and for goods manufactured in America, like construction machinery and building materials.  

“At the same time, the U.S. must continue use all available economic and diplomatic tools to push Cuba to address its approach to the protection of human rights and to democratic reforms.  The economic analysis provided by the ITC shows the positive economic potential of an improved relationship with Cuba."