House Ag Committee Chairman Colin Peterson, D-Minn., and Representative Jerry Moran, R-Kan., are sending a letter to President Obama on Tuesday urging him to take administrative action to reopen ag trade to Cuba. The Congressmen believe most of the ag provisions in their Cuba trade legislation could be addressed administratively.
Moran says that changing the rules and regulations would send us back to the days when we had the normal definition of cash up front. Therefore, letters of credit from foreign banks would no longer be required
Moran says a decision to make the necessary rule changes would permit trade representatives, marketers and buyers to travel between the two neighbors to make sales. Moran says the changes could be made now by the Treasure Department.
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