Europe Tells Trump His Cuba-Property Shift Will Cause ‘Friction’
(Bloomberg) -- The European Union warned about greater transatlantic political tensions after President Donald Trump decided to let U.S. citizens file lawsuits over property confiscated in Cuba during the 1959 revolution.
“This will cause unnecessary friction and undermines trust and predictability in the transatlantic partnership,” EU foreign-policy chief Federica Mogherini said in an emailed statement Thursday on behalf of the EU's 28 national governments.
The U.S. is enforcing as of May 2 a provision of a 1996 law known as the Helms-Burton Act that allows Cubans who fled Fidel Castro's regime to sue companies that have used their former property on the island. Like his predecessors, Trump had previously waived the provision -- Title III -- because enforcing it could result in a flood of litigation against foreign firms.
The U.S. policy reversal comes at a delicate moment in transatlantic relations, with both sides preparing for tariff-cut negotiations meant to deepen economic integration and to keep at bay a threat of American duties on European cars and auto parts. The EU is the biggest foreign investor in Cuba.
Appropriate Measures
In her statement, Mogherini said the bloc “deeply regrets” the Trump administration's full activation of the Helms-Burton Act and repeated an EU threat also made by Canada to complain to the World Trade Organization over the move.
“The EU considers the extra-territorial application of unilateral restrictive measures to be contrary to international law and will draw on all appropriate measures to address the effects of the Helms-Burton Act, including in relation to its WTO rights,” she said. “The EU will continue to work with its international partners who have also voiced their concerns in this regard.”
To contact the reporters on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg.net;Nikos Chrysoloras in Brussels at nchrysoloras@bloomberg.net
To contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, ;Chad Thomas at cthomas16@bloomberg.net, Richard Bravo, Iain Rogers
©2019 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.