US warns EU loan to Airbus threatens aircraft financing trade truce
US trade representative Jamieson Greer also expressed frustration after his office received no details about the US$3.4 billion loan issued in June.
US Trade Representative Jamieson Greer has cautioned the European Union (EU) about a substantial loan given by the European Investment Bank (EIB) to Airbus, potentially jeopardizing a delicate transatlantic trade truce. The loan, worth $3.4 billion, was made in June, and the details have not been disclosed to the US, although it was requested by US company Boeing.
This uncertainty could disrupt the market-driven production in the aerospace sector and violate the terms of a recent 15% US tariff on most EU goods as part of a hard-won LCA deal truce. The truce, which ended a 17-year dispute over alleged aircraft subsidies, was extended in July after the EU parliament approved a broader US trade deal.
The US and EU have been negotiating over subsidies since 2004, with both sides winning partial victories before agreeing to the truce in 2021.
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