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A recent announcement by the Treasury Department on Cuba trade rules concerns the American Farm Bureau Federation and has some farm-state senators up in arms. Cuba must now make cash payments before it can receive shipments of U.S. agriculture and medical products.
American Farm Bureau Federation President Bob Stallman expressed disappointment with the decision and said the regulations are unwarranted and will have the basic effect of disrupting the shipment of U.S. farm products, and, initially, will likely cut off all purchases of U.S. farm products to Cuba. Last year, Cuba purchased more than $400 million in U.S. farm products.
Sens. Max Baucus (D-Mont.), Pat Roberts (R-Kan.) and Larry Craig (R-Idaho) are promoting legislation to remove the obstacles to farm trade. Farm Bureau supports the proposed legislation.
The Treasury Department announcement was made to clarify confusion over payment procedures that have existed since Congress began allowing cash sales of farm and medical products to Cuba in 2000.
AFBF statement: http://www.fb.org/news/nr/nr2005/nr0222b.html
