Trump's More Restrictive Cuba Policy: Specifics to Come
06/20/2017On June 16, 2017 during a speech in Miami, President Trump announced changes to US sanctions targeting Cuba. The speech announced two substantial changes to the previous administration’s Cuban sanctions regime: first, the new policy will restrict business transactions with any entity affiliated with the Cuban military and second, the new policy will restrict people-to-people travel to Cuba. The outlines of the policy were announced in a Presidential Memorandum; however, the true shape of these changes will depend on yet to be issued amendments to the Cuban Assets Control Regulations. For businesses looking to understand the impact the new policy will have, the devil will be in those details.
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