Legislation to loosen restrictions on trade with Cuba is resurfacing in the House and Senate. The Senate version is backed by North Dakota’s Heidi Heitkamp and the House measure by Arkansas’ Rick Crawford. The bill is an alternative to repealing the Cuban trade embargo. National Association of Wheat Growers President Gordon Stoner says he’s pleased it’s being renewed, after first being proposed last January.
The legislation calls for cutting back on restrictions for U.S. financing for agriculture exports and allowing Cubans to purchase U.S. products with credit. Stoner says it’s positive there is a bipartisan group of 62 members of Congress supporting the bill.
He’s also optimistic that further loosening of trade restrictions with Cuba will eventually lead to a lifting of the trade embargo.
Cuba represents a potential $2 billion agricultural market.
