The Trump administration has been discussing policy changes that include prohibiting business with the Cuban military while maintaining the full diplomatic relations restored by Obama.
The White House has also been debating new restrictions on American leisure travel to Cuba, which has more than tripled since Obama's 2014 announcement.
Trump is expected to announce the policy on Friday in Miami, according to a person familiar with the plan. The person spoke on condition of anonymity to discuss internal plans. The White House said the timing had not yet been finalised.
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