On June 16, 2016, the U.S. Senate Appropriations Committee approved bipartisan amendments during its
markup of the Fiscal Year 2017 Financial Services and General
Government Appropriations bill that would ease trade barriers with
Cuba. Specifically, S. 3067, introduced by Senator John Boozman
(R-Arkansas), would lift the ban on private banks and companies
offering credit for the export of agricultural commodities to Cuba.
According to Sen. Boozman, the amendment
"helps level the playing field for American farmers and allows
U.S. agriculture products to more easily enter the Cuban
market." According to the Office of the United States Trade
Representative, the top export categories to Cuba in 2015 were
meat ($78 million), food waste and animal feed ($44 million), and
miscellaneous grain, seeds, and fruit ($22 million). In addition,
U.S. exports of agricultural products to Cuba totaled $150 million
in 2015, with leading categories including poultry ($78 million),
soybean meal ($55 million), soybeans ($10 million), corn ($5
million), and dairy products ($412,000). The appropriations bill
now advances to the full Senate for consideration.
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