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NEWS RELEASE 01-025; February 16, 2001 February 16, 2001
News Release 01-025
Inv. No. 332-413

ITC RELEASES REPORT ON THE ECONOMIC IMPACT OF U.S. SANCTIONS WITH RESPECT TO CUBA

The U.S. International Trade Commission today released its report The Economic Impact of U.S. Sanctions with Respect to Cuba.

The ITC, an independent, nonpartisan, factfinding federal agency, prepared the report for the Committee on Ways and Means, U.S. House of Representatives. As requested, the report provides an overview of U.S. sanctions with respect to Cuba; describes the Cuban economy, Cuban trade and investment policies, and trade and investment trends; analyzes the historical impact of U.S. sanctions on both the U.S. and Cuban economies; and evaluates the current impact on U.S.-Cuban bilateral trade, investment, employment, and consumers.

The report analyzes in detail the impact of U.S. sanctions with respect to Cuba for 34 U.S. and Cuban economic sectors. Service sectors analyzed are: air transportation, maritime transportation, banking and insurance, construction, telecommunications, and travel and tourism. Agricultural sectors analyzed are: meat and dairy, wheat, rice, feedgrain, animal feed, fats and oils, dry beans, cotton, winter vegetables, tropical fruit, citrus fruit, sugar, distilled spirits, cigars, and seafood. Intermediate and manufactured goods analyzed are: fertilizer and pesticides, pharmaceuticals, textiles and apparel, steel, nickel and cobalt, machinery and transportation equipment, power generation machinery and equipment, electronics goods, medical goods, cement, plastics, tires, and sporting goods. Report highlights follow.

The Economic Impact of U.S. Sanctions with Respect to Cuba (Inv. No. 332-413, USITC Publication No. 3398, February 2001) will be posted in the Reports and Publications section of the ITC's Internet site at www.usitc.gov. A printed copy may be requested by calling 202-205-1809 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street, SW, Washington, DC 20436. Requests may be faxed to 202-205-2104.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.

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