On January 30, 2015, the U.S. International Trade Commission (ITC), an independent, nonpartisan, fact-finding federal agency, launched an investigation to examine the economic effects on exports of U.S. goods and services on trade with and travel to Cuba. This investigation is in direct response to a request received by the U.S. Senate Committee on Finance late last year.
The ITC’s investigation will culminate in a report to be presented to the Senate that will provide:
- An overview of Cuba’s imports of goods and services from 2005 to the present.
- A description of how U.S. restrictions on trade, including those relating to export financing terms and travel to Cuba by U.S. citizens, affect Cuban imports of U.S. goods and services.
- For sectors where the impact is likely to be significant, a qualitative and, to the extent possible, quantitative estimate of U.S. exports of goods and services to Cuba.
The public is invited to participate in this process, providing companies with interest in exporting to Cuba, providing travel or travel-related services to Cuba, and/or providing export financing a unique opportunity to potentially influence the Administration’s shifting policy towards Cuba. The ITC will be holding a public hearing in conjunction with its investigation on March 24, 2015. Requests to appear at the hearing must be filed by no later than March 10, 2015. Moreover, written submissions will also be accepted until April 15, 2015.