A group of Cuban women who have been running the clothing store Dador in Havana since 2016 are eyeing with suspicion the measures approved by the U.S. Department of the Treasury last May to support entrepreneurs on the island. "We are a political football in the end," lamented Lauren Fajardo, one of the store's partners, in a report by AFP published by the news site El Financiero on Facebook.
Fajardo questioned the implementation of the new measures approved by Washington, which allow independent Cuban entrepreneurs to open, maintain, and use bank accounts in the United States remotely, even through online payment platforms. Although these measures could facilitate the importation of materials for their business, such as fabrics, she and her partners feel insecure due to the existing gaps in the policies.
"Yes, they approved them, but who is going to enforce them? Which banks, companies, or platforms are going to comply with the new measures approved by the Department of the Treasury?" Fajardo questioned.
Uncertainty Ahead of U.S. Presidential Elections
The concerns of Fajardo and her partners are justified as the upcoming U.S. presidential elections in November could bring a potential return of Donald Trump to the White House, leading to a possible tightening of the policy towards Cuba, thus nullifying Joe Biden's initiative.
The Dador clothing store opened in 2016 during the reduction of trade sanctions imposed on Cuba, under the Barack Obama administration, amid the normalization of relations between Washington and Havana. However, these entrepreneurs experienced firsthand the reversal of this flexibility under Trump's administration.
In contrast, Cuban President Miguel Díaz-Canel described the new measures by the Biden administration as "a subversive design, outlined in known strategies, which include the manipulation and use of this sector as a potential agent of change in the country." Through his account on X, Díaz-Canel also considered the measures "limited, restrictive, and not addressing the fundamental body," referring to the embargo on Cuba.
Despite this, successful Cuban-American businessman Sergio Pino warned last May that the Havana government would set traps to take advantage of these economic measures approved by the Biden Administration. However, Pino believes that the Cuban people could benefit. "The Havana regime will try to intervene. Of course, there will be traps, but these measures are still something positive," he told Univisión Noticias.
Impact and Implementation of U.S. Policies on Cuban Entrepreneurs
The new measures by the U.S. Treasury Department aimed at supporting Cuban entrepreneurs have raised several questions and concerns. Here are some frequently asked questions and their answers.
What are the new measures approved by the U.S. Department of the Treasury?
The new measures allow independent Cuban entrepreneurs to open, maintain, and use bank accounts in the United States remotely, including through online payment platforms.
Why do Cuban entrepreneurs like Lauren Fajardo feel insecure about these measures?
Fajardo and her partners feel insecure due to the gaps in the implementation of these policies. They question which banks, companies, or platforms will comply with the new measures.
How could the upcoming U.S. presidential elections affect these measures?
The upcoming presidential elections could lead to a potential return of Donald Trump, which might result in a tightening of the policy towards Cuba and nullify Joe Biden's initiative.