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The United States will ease travel and trade restrictions with Cuba on Friday, implementing last month's agreement to begin normalizing ties with the Cold War-era foe. "Today's announcement takes us one step closer to replacing out-of-date policies that were not working and puts in place a policy that helps promote political and economic freedom for the Cuban people," Treasury Secretary Jacob Lew said Thursday. While a US trade embargo remains in effect, the rule changes will ease restrictions on travel, raise a limit on remittances, allow US banks to establish accounts in Cuban banks, facilitate telecommunications services with the island and allow exports of communications devices and supporting services. "These changes will immediately enable the American people to provide more resources to empower the Cuban population to become less dependent upon the state-driven economy, and help facilitate our growing relationship with the Cuban people," White House press secretary Josh Earnest said.
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