EU-US Trade War Gets a Cuban Dimension - Forex News by FX Leaders
A chess game has started between the EU and the US

EU-US Trade War Gets a Cuban Dimension

Posted Thursday, May 2, 2019 by
Arslan Butt • 1 min read

The trade war between the US and the EU could potentially see a new front opening, this time in Cuba. US President Donald Trump recently removed the ban on US citizens filing lawsuits against investors in Cuba, which increases the liability for European investments in the country.

According to the EU’s foreign policy chief, Federica Mogherini, the EU could take the US to the WTO over this or even impose retaliatory sanctions against the US to protect its business interests in Cuba. Additionally, the EU could also use a “Blocking Statute” which could let EU companies sued in the US recover potential damages from US claimants in EU courts.

Mogherini also stated that the EU is open to taking support from other companies who have invested in Cuba, which could snowball into a bigger diplomatic challenge for the US. Trump’s latest move is aimed at pressuring Cuba to withdraw support to Venezuelan President Nicolas Maduro’s socialist rule.

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