Speed Reads

a 'great day'?

U.S. Chamber of Commerce slams Trump's Cuba rollback

When President Trump announced Friday that he's "cancelling" the Obama administration's Cuba deal, he deemed it a "great day" for the Caribbean island. The U.S. Chamber of Commerce, on the other hand, said the moves "actually limit the possibility for positive change on the island."

In a statement released Friday, the Chamber of Commerce said the policy changes tightening rules regarding tourism and business with Cuba "risk ceding growth opportunities to other countries that, frankly, may not share America's interest in a free and democratic Cuba that respects human rights."

Trump's policy changes will make it tougher for Americans to travel to Cuba and also restrict U.S. companies from doing business with a Cuban military-controlled conglomerate, as Trump argued "profits from investment and tourism flow directly to the military." However, Trump will not undo former President Barack Obama's restoration of diplomatic ties with Cuba.