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The United States' trade embargo on Cuba, the longest such restriction in modern history, will continue for another year after President Obama signed legislation that extends the law on Tuesday.

The Trading With the Enemy Act, which was originally enacted in 1917 and gives the President the power to oversee and restrict the country's trading policy with enemies in times of war, was slated to end on Friday unless Obama intervened.

Obama, though, chose to extend the act, declaring in a memorandum to the Secretary of State and the Secretary of the Treasury: "I hereby determine that the continuation for one year of the exercise of those authorities with respect to Cuba is in the national interest of the United States."

The embargo would not have suddenly ended on Friday if Obama did not re-sign the Trading With the Enemy Act. Congress was granted the power to override a presidential decision to end the embargo when it passed the Helms-Burton Act of 1996.

The move to extend the embargo is not surprising, but there had been signs in the beginning of Obama’s presidency that U.S. relations with Cuba might improve.

Early in 2009, Obama lifted travel and remittance restrictions on Cuban-Americans and abolished limitations on money transfers. And just this year, U.S. Customs approved eight more airports for passenger flights between Cuba and the U.S.

Obama also made strides to improve business relations with the island. He lifted sanctions to allow U.S. telecommunication companies the chance to apply for business licenses in Cuba, encouraging cell phone, Internet, radio and satellite television technologies there.

In addition, Obama made it easier for businessmen to sell agricultural and medical goods in Cuba by offering a general travel license that does not require individual permission

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Good or bad ?
Cuban cigars will still be off limits. Personally I think this will be better for quality. What say you.

I'm out of Havana Club..

In the long-run, it isn't going to matter much. They will have to be no less than one and perhaps 3-5 years old for the novice to enjoy them. Someone is going to have to hold on for them for that long, which is quite and expensive undertaking. B&Ms won't be able to afford this. Cuban cigars will be more expensive than non-Cubans. Also, unless the occasional or I-just-want-to-try-one smoker has a good experience the first time, they likely won't try again, since the experience will not even come close to matching all the hype there will be. As to regular, even if occasional, cigar smokers, many will try and some will like. However, the price will be a factor compared to non-Cubans. So, look for lots of milder, small and inexpensive Cuban cigars to be the vast majority of what is available for retail. Sure, prices, supply and demand of Cuban and non-Cuban cigars will change over the short-run, but I would be willing to bet the newness craze, when it comes to Cuban-cigars, will only result 2-3 years of turmoil... Take a good look at Lew Rothman's predictions on all of this as they really make sense to me.

Lew Rothman says that cigars the typical person will buy to "try the real thing" will be the smaller, less expense machine bunched versions. Check out what he has to say. Also, Cuba is stockpiling tobacco and ha also laid off approximately 1/3 of the cigar industry. They will be called right back to work...

Gotta love it!

If most people saw how the embargo really effects the normal Cuban person they'd be in favor of ending it now.

If we did we'd flush Fidel and his band of posers right on out to HugoLand with the US dollar.

Too bad we don't have a President with the balls to actually sign the Executive Order.

Perhaps one day a President Marco Rubio will!

So far as I know, the leases were for exploration only. But even if the Chinese find oil I wouldn't be surprised if we give China a pass but forbid our own companies from drilling there.

Rubio's past is compromised unlike, say, Obama's past?

Let's face it friends...be they Republican or Democrat, an awful lot of American politicians are steeped in a cesspool of special interest influence, shady dealings, and outright lies from top to bottom.

But, they have more than vacations, sugar cane and cigars to offer!

I won't carry the water up the hill for Obama. I will install a pipeline to carry the water with automated control systems paid for by government grants from stimulus funds.

....subsidized solar energy!

Nope.

All that I did was point out you are dead-wrong on Rubio lifting the Embargo. He is strongly, dead-set against doing that right now.



(You are in need of a better angle than trying to paint me into a corner on Obama. Sure, i voted for him and i don't regret it. McCain began losing my confidence- before Sarah Palin.

score

As usual the diversity of opinion here is simply stunning. The Beach Boys couldn't achieve better harmonics in their prime.