Trade with Cuba a future boom for New Orleans, website reports

President Barack Obama speaks in the Cabinet Room of the White House in Washington, Wednesday, Dec. 17, 2014, to announce the U.S. will end its outdated approach to Cuba that has failed to advance U.S. interests. (AP Photo/Doug Mills, Pool)

President Barack Obama’s decision to melt more than five decades of embargo against Cuba could become an economic windfall for New Orleans, whose port used to dominate seafaring trade across the Caribbean, reports the website Next City.

Before the embargo was signed in 1962, more than 60 percent of Cuba’s trade went through New Orleans, according to the story. While Miami stands to gain the most from normalized relations, it’s likely New Orleans isn’t far behind.

Some limited trade has already been occurring, and state and city officials have pushed for easing trade tensions with Cuba in recent years.

By Richard Rainey, NOLA.com

January 13, 2015

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