The Cuban Economic Embargo: Time for a New Approach?

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Thank you, Dan (Griswold), for that kind introduction. Good afternoon, ladies and gentlemen. It’s a great pleasure for me to be here today. Today I’d like to talk about why the American business community believes that it is important to lift unilateral economic sanctions against Cuba. The embargo hurts those American businesses, workers, and farmers, who would benefit from trading with Cuba. It hurts the Cuban people — the embargo provides the perfect excuse for Fidel Castro to explain away his failed centralized economic policy. And, the embargo shuts off a critical valve that would help fan the spark of private enterprise that is present in Cuba. Finally, unilateral economic sanctions are an affront to the free trade policies that have brought our country and its citizens so much prosperity.

Thomas J. Donohue

Thomas J. Donohue is President and CEO of the U.S. Chamber of Commerce.