Travel Market Report
President Trump is poised to void the re-normalization of U.S. relations with Cuba, according to multiple congressional and advocacy organization sources with direct knowledge of the administration's intentions reported by numerous news media this morning.
President Barack Obama and Cuban President Raul Castro began the diplomatic process in 2014, and in recent months tour operators and cruise companies have been lining up to carry Americans to the island nation.
Possible changes Pres. Trump is considering include “reconfirming the licensing structure that would rescind the system that has allowed for easier travel to the country,” many news media report, as well as new regulations for businesses interested in working in the Cuban market; reinstating caps or outright banning imports from the country; and redefining the what it means to be a part of the Cuban government or military, which could affect contracts with the Cuban government.
The sources say some of the changes could take affect this month.
U.S. businesses have established 26 agreements with the Cuban government from 2015 to 2017, according to ABC News, including airlines and cruise lines as well as telecommunications companies and Google, which hoped to expand internet access in Cuba.
The number of U.S. citizens visiting Cuba increased 74 percent from 2015 to 2016, according to the Cuban Ministry.
U.S. cruise operators and airlines could lose $712 million in annual revenues if restrictions are reinstated, according to lobby group Engage Cuba.