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Well, boom goes the dynamite!

The news that the U.S. will restore diplomatic relations with Cuba came flying out of left field yesterday morning. Dropping a bombshell like this not only got businesses excited, vacationers ready to book their next trip, Cigar Smokers! That's right, although it is still illegal to, there is now a chance that in the near future it might be LEGAL to import Cuban Cigars into the USA. 

If the embargo is lifted, there will likely be another cigar boom, commented numerous industry experts. Americans have the mentality that Cuban cigars are the best. Everyone, not just the average cigar smoker, will want to try one. 

Not so fast... A White House briefing for reporters suggests that, at least initially, obtaining a Cuban Cigar will not be as easy heading over to your local cigar bar. It will begin with authorized travelers traveling to Cuba with the right to bring back a limited monetary amount of goods (estimates are $400 of general goods and up to $100 for tobacco/alcohol) specifically for personal consumption.

President John F Kennedy asked an aide to buy him 1,000 Cuban cigars - the day before he authorized the U.S. trade embargo

Visitors to Cuba will be able to bring back cigars. Here's the hurdle, Cuban cigar makers apparently won’t be able to export their product to the U.S. market quite yet.

Experts are noting that the embargo will be around indefinitely—Obama called for "an honest and serious debate about lifting it."  Eventually, though, the warming of relations between the U.S. and Cuba will almost certainly change this–and perhaps soon. That would alter the $13 billion U.S. cigar market, where there’s expected to be an intense demand for Cuban cigars.

Lets face it, everyone will want what they couldn't have for the past 50 years. 

To summarize a bit about this embargo, it has been going on for over 50 years, this will hopefully bring better relations ultimately easing the travel ban, easing the trade embargo and ease taxes.

 

 

 

Credits: Bloomberg, CNBC

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Written by Cigar Manors Team of Experts — December 18, 2014

 

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