No, the US should lift the embargo.
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The Embargo has achieved nothing
The original purpose of the embargo was to force regime change. The government of Cuba has still not allowed free elections and shows no signs of budging on human rights issues. Cuba has found many ways around the sanctions. The embargo has done nothing and should be lifted.
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The Cuban embargo has not created regime change in Cuba, in spite of being the longest-running embargo in modern history. The original aim of the sanctions was to rid the country of its dictatorship, but not only has the dictatorship endured, according to some measures the jailing of political dissidents has only increased. Surveillance is widespread and arbitrary arrests are routine.  Reports that the Cuban government is weakening and will fall have been made repeatedly since the 1960s and have never proved to be true. Attempts to deter investments in the country have done nothing, thousands of companies do trade with Cuba. Cuba has consistently found ways around the embargo. Many nations have traded with Cuba in spite of being US allies, and enemies of the US such a Venezuela have given huge handouts to Cuba. Many American brands have also found their way to Cuba. The embargo has not created regime change. The Cubans have found many ways around the circumvent trade restrictions. The embargo has done nothing and should be repealed.
Cuba may really be on the verge of collapse. Cuba has survived in recent years by allying itself with the Maduro regime in Venezuela who have given handouts of oil to Cuba, which it has then sold for cash. As Venezuela continues to crumble Cuba is in an increasingly desperate situation and will eventually have nowhere else to turn. Although Cuba has found ways around the embargo, economists estimate they have been deprived of billions of dollars in aid and investments from the US. Many important items manufactured in the US have still never found their way to Cuba. The embargo has genuinely damaged the country and its economy. The embargo put an end to Castro's global military ambitions. Although progress has been slow the embargo has worked. When Cuba finally runs out of allies to prop up its crooked regime it will have no choice but to give in to US demands.
[P1] The embargo has not destroyed the Cuban regime. [P2] Cuba has found ways around the embargo. [C] The embargo has achieved nothing.
Rejecting the premises
[Rejecting P1] The embargo has shrunk the Cuban military.