Free Trade With Cuba Act

Free Trade With Cuba Act - Amends the Foreign Assistance Act of 1961 to repeal the embargo on trade with Cuba. Prohibits the exercise by the President with respect to Cuba of certain authorities conferred by the Trading With the Enemy Act and exercised on July 1, 1977, as a result of a specified national emergency. Declares that any prohibition on exports to Cuba under the Export Administration Act of 1979 shall cease to be effective. Authorizes the President to impose export controls with respect to Cuba and exercise certain authorities under the International Emergency Economic Powers Act only on account of an unusual and extraordinary threat to U.S. national security that did not exist before enactment of this Act.

Repeals the Cuban Democracy Act.

Amends the Internal Revenue Code to terminate the denial of the foreign tax credit with respect to Cuba.

Authorizes common carriers to install, maintain, and repair telecommunications equipment and facilities in Cuba, and otherwise provide telecommunications services between the United States and Cuba.

Prohibits regulation or banning of travel to and from Cuba by U.S. citizens or residents, or of any transactions incident to travel.

Directs the U.S. Postal Service to provide direct mail service to and from Cuba.

Urges the President to take all necessary steps to conduct negotiations with the Government of Cuba to: (1) settle claims of U.S. nationals against Cuba for the taking of property; and (2) secure protection of internationally recognized human rights.