Trump outlines new Cuba policy in speech in Miami's Little Havana

President Trump told cheering Cuban-Americans on Friday that his new restrictions on U.S. travel to and business dealings with Cuba will help bring down the communist regime that has oppressed its people for more than a half-century.

"With God's help, a free Cuba is what we will soon achieve," Trump said in unveiling plans that reverse some of the revamped Cuba policies made by predecessor, President Barack Obama.

The current Cuban regime has been in place since 1959 and weathered a U.S. economic embargo from 1962 to last year, when some of the restrictions were lifted.

While Trump told supporters that "I am canceling the last administration’s completely one-sided deal with Cuba," the revamped policy really doesn't do that. For example, while banning individual self-directed travel to Cuba, trips for specific educational, government, religious, and social purposes are still permitted. The two nations will still have re-opened embassies in their capital cities.

STORY FROM THE MOTLEY FOOL

They laugh at this "old" retirement trick; I smile and cash my checks

Trump and aides said they will restrict business transactions in which proceeds benefit the Cuban military and intelligence services, though some U.S. airlines and cruise ships will still be allowed to go to the island.

The so-called "wet foot, dry foot" policy — which once allowed  Cuban migrants to stay in the United States if they made it to American soil, but was banned by Obama — remains banned under Trump.

Critics said the Trump restrictions will undermine the president's goal of a free Cuba, and that increased exchanges would do more to encourage an overthrow of the government in Havana.