REPORT

Obama Preparing to Ease Cuba Embargo

Drafting new rules to weaken trade restrictions.

The White House is preparing new rules to temper the U.S. trade embargo on Cuba, allowing U.S. companies to establish offices in the island nation for the first time in more than 50 years, Reuters reported Thursday. The new rules, which could be announced as soon as Friday, would make it easier for airlines and cruise ships to transport parts and technology to improve safety in Cuba, ease restrictions on software exports, and allow authorized companies to set up subsidiaries. The draft, however, doesn’t authorize private financing of trade nor change the rules on who is allowed to travel to Cuba, people familiar with the White House’s plan on Cuba policy said. News of the change comes as veteran diplomat Jose Cabanas became Cuba’s first ambassador to the U.S. in 54 years.