ExecutiveOrdersEO
Det 2026-21DeterminationTrump 47 · R

Presidential Determination 2026-21

Continuation of the Exercise of Certain Authorities Under the Trading With the Enemy Act

TradeTradeDemocracy & GovernanceDemocracy & Governance

In simple terms

This presidential determination extends for one year the exercise of authorities under the Trading With the Enemy Act (TWEA) with respect to Cuba, continuing the Cuban embargo through the Cuban Assets Control Regulations (31 C.F.R. Part 515) until September 14, 2027. The Secretary of the Treasury is directed to publish this determination in the Federal Register.

Federal Register Open PDF 91 FR 54935

Record & deadlines

  1. Signed

    Signed by the President

  2. FR published

    Published in the Federal Register · 91 FR 54935

    Federal Register PDF

  3. Extended TWEA authorities expire unless renewed

  4. 31d ago

    Secretary of the Treasury to publish determination in Federal Register

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Banking & financeAgricultureOil & gasShipping & logisticsOther industrial

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • MixedDomestic producer — U.S. exporters to Cuba remain blocked; some agricultural/medical exceptions exist under other statutes
  • AdverseImporter — Cannot import Cuban goods including sugar, rum, tobacco; limited exceptions for informational materials
  • AdverseTrading-partner exporter — Third-country banks and firms face secondary sanctions risk for Cuba dealings with U.S. nexus

Geographies

USCNEUCAMX

Exposure dates

  • — Extended TWEA authorities expire unless renewed

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MAAPLAppleADMArcher Daniels MidlandBACBank of AmericaBLKBlackRockBGBungeCATCaterpillarLNGCheniere EnergyCVXChevronCOPConocoPhillipsCTVACortevaDACDanaosXOMExxon MobilFCXFreeport-McMoRanGEVGE VernovaGSGoldman SachsHONHoneywellHSBCHSBCJPMJPMorgan ChaseMATXMatsonSHELShellSPYSPDR S&P 500 ETFTSLATeslaTSNTyson Foods

Confidence: high · Policy alerts

Key directives

  • Continue exercise of TWEA authorities with respect to Cuba for 1 year, until September 14, 2027
  • Secretary of the Treasury to publish determination in Federal Register

Who is ordered

What to expect

Immediate

  • Continuation of existing Cuba embargo authorities takes effect upon signing
  • Secretary of the Treasury directed to publish in Federal Register

Near term (90d)

  • Ongoing enforcement of Cuban Assets Control Regulations continues unchanged

Long term

  • Embargo authorities remain in force through September 14, 2027
  • Potential for subsequent annual renewal determination required by September 2027

Risks & tensions

  • Annual renewal mechanism creates policy uncertainty for any long-term Cuba engagement
  • Maintains decades-long sanctions regime without modification despite potential policy debates
  • No substantive policy change—purely procedural continuation, though with real economic effects
Presidential Determination 2026-21: Continuation of the Exercise of Certain Authorities Under the Trading With the Enemy Act · Executive Orders