U.S. Trade with Cuba is Worth Millions

While many people believe the amount of trade between the U.S. and Cuba to be zero, that sentiment is far from the truth. U.S. exports to the Caribbean island nation totaled more than US$270 million in 2018, while imports from Cuba – that part is true – were at zero or close to zero during previous years.

According to the Federal Reserve Economic Data service, U.S. exports to Cuba consist mainly of agricultural products and medication, but also machinery and chemicals. Since the Clinton administration relaxed the embargo against Cuba in 2000 for humanitarian purposes, Cuba has been importing goods from the U.S. again. Exports to Cuba reached a peak during the 2008/09 recession and were strengthening during the Obama years, when the administration took steps to normalize relations with the country. The Trump administration has since taken steps to tighten the embargo, much to the dislike of agricultural organizations.

Agricultural products exported to Cuba include soybeans, pork and chicken, according to Ag Web.