The White House is drafting regulations that would lessen the trade embargo on Cuba, making it easier on U.S. companies and safer for Americans to travel there, reports Reuters.
With new regulations, companies would be allowed to establish offices in Cuba for the first time in more than 50 years. Such regulations would also make it easier for airlines and cruise ships to import parts and technology to improve safety in Cuba, loosen restrictions on software exports, and allow authorized companies to establish subsidiaries with Cuba, according to the article.
At present time, regulations do not authorize private financing of trade nor change current rules on who can travel to Cuba, but may be updated at some point.
According to the article, the regulations could be announced today. This news comes after the December announcement that the United States and Cuba were repairing diplomatic relations.
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