President Obama made a bit of history on Wednesday when he spoke about what’s happening with the US and Cuba. We all know from the past that the two countries don’t have the easiest of relationships, and apparently now it is time to “thaw” the frigidity.

“These 50 years have shown that isolation has not worked,” President Obama told the American people in a historic statement on Wednesday. “Neither the American nor Cuban people are well served by a rigid policy that is rooted in events that took place before most of us were born.”

What does this mean?

It means Cuba has agreed to release two Americans, “free 53 political prisoners, allow United Nations and Red Cross visits, and increase Internet access in the country”. It also means that the US will re-open their embassy and have an ambassador based in Havana.

This deal will greatly ease a travel ban and the trade embargo, and make it easier for Americans to do business in Cuba. As the U.S. Treasury and Commerce departments clear the way, American companies will be able to export goods to Cuba and visitors will have the ease of using American credit and debit cards while traveling in the country.”

Most importantly, Americans who visit Cuba will now be able to take home $100 worth of cigars.

Check out The Daily Beast.