Friday, President Donald Trump used executive order to reverse policy with Cuba that will lead to tighter financial and travel restrictions. It changes Obama administration policy that would ease trade restrictions with Cuba, particularly for ag commodities. National Association of Wheat Growers CEO Chandler Goule calls it a tremendous step backwards that will negatively affect U.S. wheat growers. He says requiring cash only for trade transactions will severely hamper trade.

He says President Trump’s Cuba policy will also cause the U.S. to lose market share.

Goule says the timing of the change in trade policy couldn’t be worse as U.S. wheat growers are already suffering from depressed prices.

Goule says the Trump administration needs to speed up bilateral trade deals with Cuba and other potential customers. He says the longer the U.S. waits the more it loses out to those markets from Brazil, Argentina, Canada, Mexico, Australia and New Zealand.