FATAL HISTORIC ERROR

THIS DAY IN HISTORY

USA Government Prohibits All Exports to Cuba (19/10/1960):
Before 1960, the US and Cuba shared strong economic ties, trading heavily in sugar and tobacco.

The United States embargo against Cuba (described in Cuba as el bloqueo, Spanish for "the blockade") is an economic, commercial, and financial export/import restrictions imposed on Cuba. It was enacted after Cuba expropriated the properties of EEUU Citizens and corporatyions (notably those that belonged to the U. Fruit Co. and ITT). It was codified into law in 1992 with the stated purpose of bringing democracy to the Cuban people, and in fact is entitled the Cuban Democracy Act. In 1996 Congress passed the Helms-Burton Act which further restricted United States citizens from doing business in or with Cuba, and mandated restrictions on giving public or private assistance to any successor regime in Havana unless and until certain claims against the Cuban government are met. In 1999, U.S. President Clinton expanded the trade embargo even further by ending the practice of foreign subsidiaries of U.S. companies trading with Cuba in dollar amounts totaling more than $700 million a year. In 2007, the embargo which limits American businesses from trading or conducting business with Cuban interests is still in effect, making it one of the few times in history that United States citizens have been restricted from doing business abroad, and is the most enduring trade embargo in modern history. Despite the existence of the embargo, it is worth noting that not all commerce from the United States to Cuba is restricted, as the United States is the seventh largest exporter to Cuba (mainly aid).