Sherritt International Corp.: Case Study

Goods or services of Cuban origin may not be imported into the United States either directly or through third countries” (2001) . According to the Cuba Policy Foundation, the United States loses up to $4.84 billion annually in trade and exports alone (Pepper 2009) . The amount of money being disregarded because of now defunct reasons is radically lacking in logic. A simple repealing of the embargo would bring both the United States and Cuba great economic success.

The US Embargo on Cuba I. Introduction In 1959, Cubareceived 74 percent of its imports from the US, and the US received 65 percentof Cuba’s exports. On February 3, 1962, the United States imposed a fulltrade embargo on Cuba, completely ending any type of trade between the twocountries. This embargo remains in effect today, more than four decades later,and has grown ! to be a huge center of debate and controversy (DeVarona 8).Opponents to the embargo argue that the embargo does nothing more than hurt theCuban people, while proponents argue that the embargo places pressure on Castroto repair Cuba’s mismanaged and corrupt government. Both the supportersand the opponents of this embargo have strong arguments and evidence to supportthese

Supporters of the legislation believe that prohibiting foreign investment will quicken Castro’s downfall. (Close Up Foundation) Many debate on the issue of why the U.S. should or shouldn’t keep the ebargo against Cuba. These debates deal with the effects of the Embargo on Cuba’s economy, humanitarian rights and health of the people of Cuba. The embargo today places a ban on subsidiary trade, Licensing, shipping and humanitarian aid. (Close Up Foundation) In 1992, the Cuban Democracy act imposed a ban on subsidiary trade with Cuba. This ban restricted Cuba’s ability to import medicines and medical supplies from third country sources. There have also been corporate buy-outs and mergers between U.S. and European pharmaceutical companies thus adding to the number of companies permitted to do business with Cuba. Under the Cuban Democracy Act, The U.S. Treasury and Commerce Departments are allowed to license individual sales of medicines and medical supplies, supposedly for humanitarian reasons to make up for the embargo’s impact on health care delivery. According to the U.S. corporate executives, the licensing provisions are so tough as to have had the opposite effect. With this statement, it is assumed that there are fewer licenses given out for humanitarian reason therefore favoring the embargo and aiding in the downfall of health in Cuba. Since 1992, the embargo has prohibited ships from loading or unloading cargo in U.S. ports for 180 days after

Summary In the article, “Why Do We Still Have an Embargo of Cuba?” Patrick Haney explores the history of the embargo and the different factors which have maintained and tightened its restrictions over the past fifty years. The embargo consists of a ban on trade and commercial activity, a ban on

America's Cuban Conundrum: One of the most controversial and widely debatable issues that have been discussed extensively in international legislation for several decades is the Helms-Burton Act. The main controversy surrounding the Helms-Burton Act is the resistance from the Cuban government regarding the features of the legislation. The resistance is a clear demonstration of the legality of property claims despite of the passage of time. Throughout history, rarely has an initiative by the American government to enforce its political opinion on economies of other countries generated much anger like the 1996 Cuban Liberty and Democratic Solidarity or Helms-Burton Act. Even though President Clinton initially opposed the legislation, it was enacted after the downing of two planes by Cuban Air Force that were flown by members of an anti-Castro organization in America. The enactment of this legislation resulted in the America's Cuban Conundrum whose main issues are addressed in this article.

Canadian companies have committed with business in Cuba, and it was successful. It is a relief due to the fact that Canada did not have to compete with U.S. counterparts. Two-way trade amounts come up to more than $1 billion each year, while Canadian companies still have a sizeable presence in the island country’s mining, oil and gas, agricultural and tourism industries. But Canada might not have had any role at all if it weren’t for its unique relationship with the two adversaries, particularly Cuba.

The relatively short distance between Cuba and the U.S. naturally led to a long and involved history of relations between the two nations, but relations between the two nations over the past fifty years have been unhealthy and harmful to both nations. The embargo imposed by the U.S. has only been damaging and unhelpful to the situation. “As a result of the new government’s nationalization policy, American investors suffered major losses and the U.S. retaliated in July 1960 by canceling planned purchases of Cuban sugar” (Crouch 70). This was the first act of neglect toward Cuba that would only quickly progress until all trade and relations were cut off with Cuba.

In 2009, President Barack Obama lifted travel restrictions to Cuba, resulting in Adjustments have been since then so that independent businesses in Cuba may trade with the United States, resulting in, “the United States [becoming] Cuba’s fifth largest trading partner since 2007,” (Lee and Renwick 5). Even though Obama came into office in 2008, and a year later reversed more of the restrictions set forth in the Helms-Burton Act, the actual lift of the embargo and Helms-Burton seems to not be as close as the media makes it seem. Since Raul Castro has come into office, also in 2008, he has claimed he would work towards normalizing relations with the United States, and further stated that he would leave office in 2018. Castro leaving office marks the end of the period the Castros have been in power, and leaves question to how the state of Cuba could potentially thrive. In my opinion, after reading many articles that bought forward the many problems Cuba is to overcome, I feel that Cuba has a long way to go in terms of achieving economic prosperity. However, I also deeply believe that the leaders of both Cuba and the United States are paving the roads needed to reach that level of prosperity. Journalists who have visited Cuba have come back claiming, “private businesses have blossomed due to the relaxation of limits of remittances from Cuban Americans to the island,” (O’Neil 2). This statement, and others like it, leaves me to feel

n October 19th 1960, the United States of America implemented an embargo on American exports to Cuba. This undertaking was in response to the Cuban state nationalizing American owned property without any compensation. The embargo, which included just about all imports, is one example of US-Cuban relations that have been poor ever since the overthrow of the Batista regime (Haufbauer et al). In recent years, trade sanctions have finally began to open up and in 2000 the United States passed the Trade Sanctions Reform and Export Enhancement Act which allows for food and agricultural products to be exported to Cuba (Engage Cuba Coalition). However, despite this act opening up the market for food and agricultural products the Trade Sanctions Reform

The American political system and its structured relationships serve to reinforce the existence and stipulations of the Cuban trade restrictions and supporters persistently try to influence the U.S. Congress and the government in power to tighten the ban so as to incite and hasten the collapse of the communist regime in Cuba.

Before the conflict between the United States and Cuba, the two countries were strongly connected in terms of trading, with the US purchasing 87% of Cuba’s exports (CITE). However, once Fidel Castro came to power in Janurary 1959 after successfully overpowering President Batista and established Cuba as a communist state, relations became strained. In the following year, $1.8 billion US assets in Cuba were taken by Castro and the newly Communist state created close ties with the Soviet Union (CITE 2). In the year of 1963, travel and financial transactions with Cuba were both prohibited. Traverse from the United States to Cuba was made illegal on February 8, 1963 and the Cuban Assets Control Regulations, or CACR, issued economic sanctions prohibiting financial transactions with Cuba in July of that same year (CITE 2). In the year of 1977, President Jimmy Carter attempted to repair the relationship between countries by opening a “US Interests Section” in replacement of the previously closed US Embassy in Havana. Carter also began talks with Cuba.

Cuba's Relations with the United States In the early 1900’s, Cuba was a stomping ground for many of the rich and famous from the United States. Many famous movies stars and wealthy business entrepreneurs spend their vacations there along with a substantial amount of money. Trade and commerce between the United States and Cuba flowed freely and abundantly. Even with the Dictatorship-like regime of Batista, the countries benefited from the economic trade between them. This was all about to come crashing down as revolts against Batista occurred and Fidel Castro came to power within Cuba.

he Juviels live in Havana under extreme poverty due to the economic embargo that the United States has had on Cuba for over 50 years. Megan had to fly all the way to Cuba to acquire a lung cancer vaccine which was made by Cuba and cannot be imported into the United States due to the economic embargo. Sun-Maid Growers, a dried fruit company, wants to buy their mangoes from Cuba which is 90 miles away but instead they are forced to acquire them from Thailand which is 8000 miles away (Linthicum, par. 2). These Three examples show that isolating Cuba causes more harm than good. A lot of people have realized this and after 50 years of a failed policy many people want change in the way we deal with Cuba, and that makes this topic highly controversial.

Throughout history sovereignty has been known to be at the mercy of a nation’s ruler, king, or dictator. As we have come to recognize, especially in the United States, sovereignty should unconditionally belong to the people to freely determine their own destiny. For 58 years Cuba’s sovereignty has been

The idea persists throughout the policy community that what Washington really despises about modern day Cuba is not communism, it is Fidel Castro (Leogrande 216). The man who is the symbol of sanctions against Cuba is also the primary cause for the continuance of sanctions against the island nation. Many believe that recent efforts to tighten economic sanctions against the Cuban government, such as the Helms-Burton laws, only make more powerful the symbols of Castro and strengthen his and his supporters’ resolve to resist change. A prominent Castro critic, former Costa Rican President Oscar Arias remarked about Helms-Burton, ‘[Measures] that tend to impose more sacrifices on the Cuban people are arguments one gives Fidel Castro to continue living in the Cold War’ (qtd. in Zimbalist 162). Indeed Castro seems to publicize through his clothes, that even though the Soviet Union is no more, the Cold War continues to endure in the warm waters off South Florida.