Greer says EU loan to Airbus threatens trade truce on large aircraft financing
Greer says EU loan to Airbus threatens trade truce on large aircraft financing WASHINGTON, Oct 26 (Reuters) - US Trade Representative Jamieson Greer warned the European Union on Monday that a record-breaking loan from the European Investment Bank to Airbus threatens a delicate transatlantic trade truce, including a deal on financing large civil aircraft (LCA) projects.
In a statement, Greer expressed frustration that despite "ongoing requests," his office has received no details about the $3.4 billion loan made in June. US planemaker Boeing BA.N in July had asked the US government to press for transparency on the loan, which came amid speculation that Airbus would use the funds to develop a new aircraft model.
"This situation injects substantial uncertainty into transatlantic trade in the aerospace sector," Greer said. "It is important this situation is resolved as soon as possible to ensure market-driven production in the aerospace sector and to avoid violation of the terms of our hard-won LCA deal."
(Reporting by David Lawder and David Shepardson; Editing by Caitlin Webber)
((David.Lawder@tr.com; +1 202 843 6288;))
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