President Obama Announces Major Cuba Policy Overhaul

By FOXBusiness

How overhauling relations with Cuba impacts the economy

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How overhauling relations with Cuba impacts the economy

Kathryn Rooney Vera of Bulltick Capital Markets discusses how lifting the ban on travel and money restrictions in Cuba will impact the economy.

U.S. and Cuba relations took a historic turn Wednesday toward renewed trade and diplomacy following Cuba’s decision to release an American aid worker.

The U.S. and Cuba have essentially been engaged in a decades-long standoff across 60 miles of water since a successful revolution led by former Cuban President Castro in the 1950s that eventually turned the Caribbean island Communist.

President Barack Obama announced the renewed relationship at press conference in Washington during which he said the U.S. would no longer seek to isolate Cuba.

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Cuban President Raul Castro was also set to make a statement at that time.

President Obama issued an array of instructions that will move the two countries toward normalizing relations.


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