The U.S. Chamber of Commerce issued the following statement in response to the administration’s announcement relating to Cuba and Title III of the LIBERTAD Act:
“Six decades of trying to isolate Cuba has failed to bring change to the island, and today’s move only doubles down on this strategy. The U.S. Chamber’s support for a new approach to Cuba is founded in our profound conviction that more engagement with the Cuban people — on the basis of free enterprise and free markets — is essential to democratic change and improvements in the Cuban people’s lives.
“We strongly support U.S. government efforts to protect the property rights of U.S. citizens abroad, but full implementation of Title III is unlikely to achieve those aims and is instead more likely to result in a protracted legal and diplomatic morass that ensnares U.S. courts, companies and partners. The U.S. government established a legal mechanism for certifying and processing U.S. citizens’ claims to property in Cuba, and elsewhere, specifically to prevent such a scenario from unfolding. Furthermore, it is difficult to see how this action squares with the administration’s earlier commitment to hold harmless U.S. companies legally authorized and previously encouraged to do business in Cuba.
“Many American companies will now be subjected to countersuits in Europe, Canada, Latin America, and elsewhere. The announcement threatens to disrupt our trade ties to these countries, which are among our closest allies and best customers. Instead, we should be working with them to make the case for democratic change in Cuba.”