USTR Greer tells EU that loan to Airbus threatens trade truce on aircraft financing
U.S. Trade Representative Jamieson Greer said a lack of information about the European Investment Bank’s $3.4 billion loan to Airbus threatens the transatlantic trade truce on aircraft financing. Airbus called the loan a standard corporate financing facility and said it would share more information with governments.
1. USTR seeks loan details
Greer said his office had received no details about the $3.4 billion loan the European Investment Bank made to Airbus in June, despite ongoing requests. He said the uncertainty should be resolved quickly to ensure market-based aircraft production and avoid violating the terms of the U.S.-EU large civil aircraft deal.
2. Airbus describes financing
Airbus called the loan a standard corporate financing facility, similar to commercial loans it has signed before, and said it was willing to share more information with governments. The company said the financing also diversified its funding sources and helped manage its global production system and supply chain.
3. Trade truce context
The U.S. and EU fought a 17-year World Trade Organization dispute over aircraft subsidies before agreeing to a five-year truce in 2021, which was extended in July. A key question for USTR is whether the EIB loan would be considered an Airbus subsidy; the EIB said the loan carried interest and was normal financing activity.
