Obama relaxes trade restrictions with Cuba

The administration further relaxed economic restrictions on Cuba Friday, allowing more collaboration on medical research, the approval of Cuban drugs for import and the lifting of monetary limits on cigars and rum imports. The moves make the U.S. openings to Cuba "irreversible," President Barack Obama said in a statement.  The latest changes build on the president's announcement in December 2014 to chart a new course for the U.S.-Cuba relationship, Treasury Secretary Jacob Lew said in a statement. The lifting of the limit on cigars and rum applies only to authorized travelers to Cuba.  “The Treasury Department has worked to break down economic barriers in areas such as travel, trade and commerce, banking and telecommunications," Lew said. "Today’s action builds on this progress by enabling more scientific collaboration, grants and scholarships, people-to-people contact, and private sector growth."