H.R. 7521: United States-Cuba Trade Act of 2026

This bill, known as the United States-Cuba Trade Act of 2026, proposes significant changes to the current trade relationship between the United States and Cuba. Here are the main points of the bill:

1. Repeal of Existing Restrictions

• The bill aims to remove provisions that have historically imposed restrictions on trade with Cuba. It specifically repeals parts of the Foreign Assistance Act of 1961 and other laws that limit U.S. interaction with Cuba.
• It terminates the Trading with the Enemy Act's applicability to Cuba, allowing for trade that was previously restricted.
• It abolishes the Cuban Democracy Act of 1992 and the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996, which enforced various restrictions on Cuba.

2. Lifting of Trade Embargo

The legislation would completely lift the trade embargo against Cuba. This includes:

• Ending prohibitions on exports to Cuba and allowing for various forms of trade.
• Allowing the President to impose new restrictions if deemed necessary for national security or foreign policy.

3. Telecommunications Access

The bill permits U.S. telecommunications companies to install and maintain equipment in Cuba, enhancing connection and communication between the two countries.

4. Travel Provisions

Travel to and from Cuba by U.S. citizens and residents would no longer be regulated or prohibited. Individuals can freely engage in transactions related to their travel.

• Normal banking transactions related to travel, such as using traveler’s checks or foreign currency, would also be allowed.

5. Encouragement of Negotiations

The President would be encouraged to negotiate with the Cuban government to settle property claims of U.S. nationals and to promote internationally recognized human rights.

6. Trade Treatment

The bill emphasizes that the U.S. should normalize trade relations with Cuba, promoting economic reform and democratic changes in the country. It mandates that Cuba be treated on par with other nations regarding trade legislation.

7. Remittance Provisions

U.S. citizens would be allowed to send remittances to Cuba without limits, lifting previous restrictions on the amounts that could be transferred.

8. Report to Congress

The President is required to report to Congress within 18 months after enactment on the state of trade relations with Cuba.

9. Effective Date

The provisions of the bill would take effect 60 days after its enactment, with some specific sections having different effective dates.

Relevant Companies

• AT&T (T): As a telecommunications provider, AT&T could potentially benefit from the ability to provide services in Cuba.
• Verizon (VZ): Similar to AT&T, Verizon may explore opportunities to enter the Cuban telecommunications market.
• Carnival Corporation (CCL): Carnival, being a cruise line company, may expand its operations in Cuba, attracting more tourists and improving itineraries that include Cuban ports.
• Alphabet (GOOGL): Alphabet could look for opportunities in expanding internet service offerings in the Cuban market.
• Meta Platforms (FB): Meta may have opportunities to enhance its social media presence in Cuba as restrictions on communication with the country are lifted.