U.S and Cuba international relations

The economic and political turmoil between the United States and Cuba has ties leading back to 1959 when Fidel Castro seized power of Havana. This relationship took an even worse turn in 1961 with the Cuban missile crisis which led to a full economic embargo. This relationship has continued to be restricted economically until as recently as 2009 when President Obama took office. Obama has reversed some economic restrictions, allowing United States telecommunication to provide more cellular and satellite services in Cuba. Despite the economic embargo, the United States has eased restriction some economically. This includes reducing restrictions on remittances, travel and banking, along with other economic factors. In January 2015 the travel and trade regulations once again became less strict, allowing U.S citizens to travel to Cuba and spend money there. By examining these factors and the fact that the United States and Cuba have restored full domestic relations could be a sign of greater things to come. However, The repeal of the Helms-Burton act (the embargo may not be lifted until Cuba holds free and fari elections and transitions to a democratic government that excludes the Castros) is "unlikely to happen anytime soon." 

One of the ten principles of Economics that trade can make everyone better off. And more often than not trading does make the countries participating better off. Therefor we can conclude that a trade embargo will hurt a country economically. This will have a negative impact on a country in terms of both exports and imports and impede on economic growth . In the case of exports, by placing a trade embargo on a good you are completely eliminating a possible trade partner. If we look at this from a business standpoint it would be comparable to not selling to certain customers. Therefor, we can concluded that this would cut into the net exports (almost like profits) of a country. On the other hand, in terms of imports, by cutting off a country economically you are again cutting of a trade partner, but in this case it is someone you can by from. For example, this would negatively hurt a country economically because either they will have to produce within their own country something they can get for cheaper in the country on which they have placed the embargo. Or they will have to look to another country to get these goods and services which, could possibly be more expensive. This would be like if you were running a business and you can purchase your inventory from one company for $400 dollars and another company for $500. Therefor you would buy your goods from the first company correct? Now say you don't want to buy your goods from the first company so you're stuck with buying from the second one. This would be comparable to having a trade embargo on a fellow country. Now, overall both of these actions are going to have a negative impact on net exports and net capital outflow (because they are equal to each other). This is because you are losing a country to sell to, and losing a country to buy goods from, possibly leading you to purchase your goods from another country but at a steeper price. Therefor, overall I would say that a trade embargo negative impact on economic growth and can be harmful to a nations economic success. 

"U.S-Cuba Relations." Council on Foreign Relations. Council on Foreign Relations, n.d. Web. 20 Apr. 2016. <http://www.cfr.org/cuba/us-cuba-relations/p11113>

"UN Comtrade Demo | SAS® Visual Analytics." UN Comtrade Demo | SAS® Visual Analytics. Web. 20 Apr. 2016.