Cuban Conundrum

Topics: United States, International trade, Barack Obama Pages: 2 (563 words) Published: April 7, 2013
1.What was the key issue that prompted the EU to take the Helms-Burton dispute to the WTO? The EU took the Helms-Burton dispute to the WTO because they felt that it violated international rules dealing with trade. The EU had a dispute with the U.S. regarding testing agriculture, trade, investments and biotechnology issues which was brought to the attention of the WTO. The EU was concerned about the effect of the North American Free Trade Agreement, proposed a Transatlantic Free Trade Agreement in 1994,however, the U.S. somewhat reluctantly went along. There was to be no TAFTA to complement NAFTA, however only a renewed political gesture in the form of the 1995 New Transatlantic Agenda. Its main lasting effect was the Transatlantic Business Dialogue which was the first transatlantic lobby bringing about agreements on testing and certification as a step toward defining a new trade agenda. It also envisioned the creation of a New Transatlantic Marketplace within which trade barriers between the U.S. and EU would be largely dismantled.In 1998 the NTM became today's Transatlantic Economic Partnership, a limited agreement slighting key issues, particularly agriculture, audiovisual services, and culture. This failure to develop substantive transatlantic regulations means reliance on the World Trade Organization's dispute settlement process for airing differences. As the cold war settled down in 1990, the U.S. rebuffed EU calls for a formalization of relations through a transatlantic treaty, preferring a network of informal relations. Who benefits the most from an embargo of this type? Who suffers? This embargo immediately benefits the U.S. companies and citizens whose property was seized by the Cuba government. It hurts the country that is being sanctioned because it limits the trade market. The Helms-Burton Act also restricts new job openings from foreign companies and investors. These jobs could be vital to improving the poor way of life the Cubans are...
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