Trade embargos Flashcards
What is an example of a trade embargo?
Cuba-USA
What is a trade embargo?
A form of foreign policy that bans exports and imports from a country
When and why was the trade embargo of Cuba imposed by the USA ?
1960s
Cuba’s leader, Castro, supported communism
How much did the trade embargo cost Cuba per year?
$690 million
How much did the US lose every year from the trade embargo on Cuba?
$1.2 billion
In what year did Obama lift the trade embargo?
2016
What is a positive of trade embargos for the country in charge (USA)?
Reduces economic power of potential threats
What is a positive of trade embargos for the country receiving it (Cuba)?
Rise in domestic goods
Promotes change in human rights
What is a negative of trade embargos for the country in charge (USA)?
Minimises economic growth
Creates global tensions
What is a negative of trade embargos for the country receiving it (Cuba)?
Decreased investment
