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Bill would remove Cuba cash-only commerce rule

US Rice Federation Rice VarietiesA bill’s been introduced in Congress to lift barriers that are getting in the way of U.S. ag exports to Cuba.

Congressman Rick Crawford of Arkansas, a major rice producing state, is the sponsor of the Cuba Agricultural Exports Act that would repeal restrictions on export financing. Cash, not credit, is the only means possible now and reports say Cuba isn’t buying U.S. commodities because of its cash-flow problems.

Although diplomatic relations have been restored with Cuba, the cash-only option, part of U.S. law passed 15 years ago, continues to be a hindrance.

And Cuba’s U.S. purchases slowed even more when other countries began accepting credit seven years ago.

 

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