text: 15. rn March 1962, section 5 (b) of the Traaling ulth tbe Elnemy Act of l9l? ua8aoended to prohibit the ioport of any product manufactured eholly or partly frooproducte of Cuban orlgln, even those proceased in any other country. 15. In May 1962, by Treaaury decislon 5563g and under the leqal authority ofsectlon 401 of the Tartff crasstflcatroo Act of 1g62 and through applrcatl.n ofaecti.oh 5 of the Trade Agreementa Extension Act of 1951, as arnenaea- by the TradeBxpanslon Act of 1962, the Unit€d States unilaterally abollsheiloost- favour ed-na tlon and preferentiar treatoent for the Republic of cuba to whichit vas bound by birateral agree'ent and under the provisrons of cenerar Agreementon Tariffs and Trade (GAT{), an organlzatlon to rrhich both countries beLong. 17. fn September 1952, the @vernnent of the United States rarned thoseGovernoents with oerchant shipe salllng to cuba for peaceful trading purposes th€t,unleas they joined the enbargo antl suspended such sallings, their vessels l{ou!,at be'black-ltstedr and unable to use llor th American ports. 18. l+te effect of tbls measure, as part of the enbargo agarnst cuba, lras to placethe nevorutlonary @vernnent in a very difficult narket positront first, cuba eascoop€rled to redirect ltE trade to alistant regrons, thus oakrng both exports andlmports oore expenEive: lts exporta becaoe less competltrve and idports invorveatnajor expenditures of forelgn exchange tn the foro of frerght costs. secondry,cuba sas placed ln a very diEadvantageoua posltion ln the $orld charler market,Hith carrlers applying unusualry 6trrngent conditions and requirrng prenruns overprevaillng charter ra tes. 19. fn June 1963, the Cuban Aasets Cobtrot Regu!,ations {C.F.R., title 31,part 515) were issued and were approved on I Jury. These replaced the cubanfoPorts Regulations and prohibited all transactlone carried out by, on behalf of,A/40/596 Engl i sh Page 27 or accordlng to the lnatructions of the @vernoent of cubar lts agent3 or natlonals' ihus affectlng all transfer6 of cre'lits and payments ' property
analysis: The text appears to be discussing the economic policies and trade restrictions imposed by the United States on Cuba, including the embargo on Cuban products and the effects on Cuba's trade and economy. The text highlights the difficulties faced by Cuba in redirecting its trade, the increased costs and expenses incurred, and the impact on its international trade.