A study by the Cuba Policy Foundation estimated that the annual cost to the US economy could be $4.84 billion in agricultural exports and related economic output. "America's Farmers Bearing Heavy Burden for U.S. Embargo Against Cuba: New Report," www.cubafoundation.org, Jan. 28, 2002]
On the US embargo/blockade of Cuba, President Obama can exercise his authority in the following areas: 1) authorize the use of the dollar in international transactions;
2) permit Cuba to import from third countries products with more than 10 percent U.S. components;
3) allow Cuban entities to open correspondent accounts in U.S. banks;
4) end the policy of financial persecution against Cuba;
5) not impede the granting of credits or other financial facilities;
6) allow imports of Cuba's exportable products or services;
7) authorize Cuban planes and boats to carry passengers, cargo and mail between the two countries;
8) authorize direct exports of U.S. products to Cuba;
9) authorize companies to invest in Cuba (international firms have submitted more than 400 proposals for investment in the Mariel Economic Zone);
10) remove the limit on Cuban products that can be imported by U.S. visitors to Cuba;
11) authorize U.S. citizens to receive medical treatment in Cuba;
12) allow the distribution of credits, loans and financing for the acquisition of products in the U.S. market.
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