, further isolates Cuba from the world economy by prohibiting any foreign-based subsidiaries of U.S. companies from trading with the country. The bill's goal was to cripple the Cuban economy in order to bring down Castro "within weeks," according to the bill's primary advocate Robert Torricelli (D-N.J.).
The Helms-Burton Act states that American citizens can sue foreign investors who utilize American property seized by the Cuban government. In addition, those who "traffic" in this property or profit from it will be denied visas to the United States. Supporters of the legislation believe that prohibiting foreign investment will quicken Castro's downfall. (Close Up Foundation)
Many debate on the issue of why the U.S. should or shouldn't keep the ebargo against Cuba. These debates deal with the effects of the Embargo on Cuba's economy, humanitarian rights and health of the people of Cuba. The embargo today places a ban on subsidiary trade, Licensing, shipping and humanitarian aid. (Close Up Foundation)
In 1992, the Cuban Democracy act imposed a ban on subsidiary trade with Cuba. This ban restricted Cuba's ability to import medicines and medical supplies from third country sources. There have also been corporate buy-outs and mergers between U.S. and European pharmaceutical companies thus adding to the number of companies permitted to do business with Cuba.
Under the Cuban Democracy Act, The U.S. Treasury and Commerce Departments are allowed to license individual sales of medicines and medical supplies, supposedly for humanitarian reasons to make up for the embargo's impact on health care delivery. According to the U.S. corporate executives, the licensing provisions are so tough as to have had the opposite effect. With this statement, it is assumed that there are fewer licenses given out for humanitarian reason therefore favoring the embargo and aiding in the downf...