US warns $3.4 billion Airbus loan risks US-EU tariff truce

US Trade Representative Jamieson Greer warned that a $3.4 billion loan approved by the European Investment Bank (EIB) for Airbus may jeopardize the tariff truce between the United States and the European Union, France 24 reported.

Greer expressed concern that his office had not received details about the financing, which was announced in June, and urged the EU to resolve the issue quickly to avoid uncertainty in aerospace trade.

The EIB's loan, described as a record 3 billion euros, aims to support Airbus's research and development efforts in commercial aviation as well as security and defense sectors, according to the EIB vice president Ambroise Fayolle.

The US and EU have had longstanding disputes over alleged unfair trade practices and subsidies to private companies since 2004, with both sides accusing the other of providing improper support.

Greer stated he had hoped that trade-distorting European subsidies to Airbus were a thing of the past, highlighting the potential impact of the new financing on transatlantic trade relations.