Answer to Question #324206 in English for rockets

Question

the impact of the united state of amercan's economic sanctions on the republic of cuba

Answer 1

The U.S. sanctions on Cuba and their economic impacts can be traced back to when they were first implemented in the 1960s.After the formal implementation of the embargo and the passage of Proclamation 3355, there was a 95% decrease in Cuba's sugar quota, which canceled roughly 700,000 tons of the 3,119,655 tons previously allotted to the United States. A year later, Cuba's sugar quota was reduced to zero when President Eisenhower issued Proclamation. This substantially affected Cuba's total exports, as Cuba was one of the world's leading sugar exporters at the time. In 2009, the U.S. Chamber of Commerce estimated that the embargo costs the U.S. economy $1.2 billion per year in lost sales and exports, while the Cuban government estimates that the embargo has cost the island itself $753.69 billion. The report estimates that the cost of the embargo in U.S is at $4.84 billion per year while costing Cuba $685 million per year