U.S. to allow lawsuits against foreign firms in Cuba, putting Canadian companies at risk

U.S. Secretary of State Mike Pompeo speaks about the Trump administration's Cuba policy during a press briefing on April 17, 2019 in Washington.The Trump administration says it will now allow lawsuits against foreign companies connected to properties seized from American firms during the Cuban revolution – including Canadian businesses.

U.S. Secretary of State Mike Pompeo says the decision, to take effect early next month, is rooted in Cuba’s ongoing support of Nicolas Maduro’s socialist government in Venezuela.“Cuba’s behaviour in the Western Hemisphere undermines security and stability of countries throughout the region, which directly threatens United States national security interests,” said Pompeo, adding that Cuban military intelligence and state security services today keep Maduro in power.

Canada, its Lima Group allies and the U.S. have all called for Maduro’s ouster and recognize opposition leader Juan Guaido as the interim leader of the beleaguered South American country, which has been engulfed in economic and political turmoil, sparking a refugee crisis. About one million Canadians annually vacation in Cuba and Toronto-based resource company Sherritt International is long established there, while countries such as Britain, France and Spain have companies active in rum, cigars and tourism.During a recent trip to Washington, Foreign Affairs Minister Chrystia Freeland met with Pompeo to discuss the possible negative consequences for Canadian companies if the U.S. were to resurrect Title III, officials said.

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U.S. shifts Cuba policy to allow lawsuits against foreign companies — and that includes Canadian firmsThe policy could place Canadian mining, tourism and financial services companies at risk in American courts
Source: nationalpost - 🏆 10. / 80 Read more »

U.S. allows lawsuits against foreign companies in Cuba, imperilling CanadaThe Trump administration says it will now allow lawsuits against foreign companies connected to properties seized from American firms during the Cuban revolution -- including Canadian businesses. It's an outrageous over reach by the USA. It should be contested at the highest courts in the world. Under the bus we go --again. Cancel CUSMA unless the exempt us.
Source: CTVNews - 🏆 1. / 99 Read more »