Washington, D.C., partner Elliot Feldman, leader of firm's International Trade practice, was featured on KGO Newstalk Radio, San Francisco (ABC Radio Network), on December 22 discussing the possible lifting of travel and trade restrictions to Cuba, under the new presidential administration.
According to Feldman, while allowing travel, especially for families, will likely be the first step in relaxed restrictions, business will be a little slower. "I think his [Obama's] first interests are in opening things for families, both in terms of remittances and in terms of travel, but most business interests in the United States are very eager to get in. Other countries are there, so I think this will open up progressively as well."
Commenting on the embargo which has been in place and has cost U.S. companies not only real money, but the opportunity to make money, Feldman said, "It's been a 50-year embarrassment for the United States because if we do believe the failure in Cuba is because of communism, we've not permitted the test . . . by imposing the embargo, we've crippled the economy as well. If we believe that communism is destined to fail in Cuba, we need to let it operate on its own and it will fail of its own weight."