US-EU trade truce at risk over $3.4 billion Airbus loan, Trump official warns
US Trade Representative Jamieson Greer warned on Monday that a $3.4 billion European Investment Bank loan to Airbus could jeopardise a tariff truce between Washington and Brussels. Greer said his office had received no details about the financing, announced in June, and urged the EU to resolve the matter quickly.
The US Trade Representative, Jamieson Greer, expressed concern to the European Union on Monday about the lack of transparency surrounding the US$3.4 billion loan given to Airbus. Greer stated that the absence of information on this substantial loan threatens the delicate trade truce between the United States and Europe, particularly in the area of financing for large civil aircraft (LCA) projects.
Boeing had previously requested that the US government advocate for transparency on the loan, which was made by the European Investment Bank (EIB) in June. This situation is causing uncertainty in transatlantic trade within the aerospace sector, as it may lead to market-driven production in aerospace being jeopardized and potentially violate the terms of a hard-fought Limited Capital Access (LCA) agreement.
Airbus representatives clarified that the EIB loan is a typical corporate financing facility, similar to others previously granted to the company. They are actively cooperating with relevant authorities to provide more details about the loan. The loan was also intended to diversify Airbus' funding sources, which is crucial to manage the complexity of a large-scale global production system and supply chain.
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