More open trade with Cuba could boost agricultural exports and add jobs to the U.S. economy, according to Southwest Farm Press.
“A more open economy, coupled with less regulation by both governments, strong tourism and remittances, would pave the way for U.S. food and agricultural exports to potentially reach record levels within five years,” said Parr Rosson, Texas A&M University agricultural economics department head.
He recently told the U.S. Senate Committee on Agriculture, Nutrition and Forestry that U.S. agricultural exports to Cuba could reach $1.2 billion annually if regulations are relaxed and some trade barriers are lifted.
“These additional exports would support the creation of 6,000 new jobs throughout the U.S. economy, along with another $739 million in business activity nationwide,” Rosson said.