🚗 🚙 Turn your trusty old car into trustworthy journalism Learn more

Buzzword: Foreign Assistance Act

Marketplace Staff Aug 4, 2006

The law that drives cigar lovers crazy brings us this week’s Marketplace Money Buzzword: Foreign Assistance Act

Congress passed the Foreign Assistance Act in 1961. It defines which countries can receive US non-military aid.

Cuba didn’t make the cut. In fact, the law began the American trade embargo of our Communist island neighbor.

In 2004, the U.N. issued a resolution opposing the embargo. Not that it made Cohibas any easier to come by in the States.

When Fidel Castro fell ill this week, many hoped it’d signal a political change in Cuba.

And that the embargo might therefore go up in smoke.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.