By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

President Trump has signed an Executive Order declaring an emergency under the International Emergency Economic Powers Act (IEEPA) that states “the policies, practices, and actions of the Government of Cuba constitute an unusual and extraordinary threat” to the U.S.

This EO lays the groundwork for potential tariffs to be implemented for any country that selling oil directly or indirectly, to Cuba.

No tariffs are immediately being implemented, but would be announced at a later date dependent on recommendations from the Secretary of State and other mentioned U.S. department Secretaries.

We will continue to monitor this situation and provide updates as necessary.

If you have any questions, please reach out to your V. Alexander account team, or you may contact our Trade Compliance team at tradeinsights@valexander.com. For ongoing updates on this and other topics, visit our website at www.valexander.com.