WASHINGTON: US Trade Representative (USTR) Jamieson Greer told the European Union on Monday that a lack of information about its record-breaking loan to Airbus threatens a delicate transatlantic trade truce, including 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 US$3.4 billion loan made in June from the European Investment Bank (EIB), the EU's official lending arm.
US planemaker Boeing had asked the US government in July 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."
