Ambassador Greer Issues Statement on the Status of the U.S.-EU Détente Following Record-Breaking Loan from the European Investment Bank to Airbus

WASHINGTON - Today, Ambassador Jamieson Greer issued a statement regarding the status of the U.S.-EU deal to pause duties on certain EU imports, following a record-breaking loan from the European Investment Bank to Airbus.

"I had sincerely hoped that trade-distorting European subsidies to Airbus were a thing of the past," said Ambassador Greer. "For decades, France, Germany, and Spain have aggressively supported Airbus, their national champion aircraft manufacturer, to gain an unfair advantage over U.S. aerospace workers and businesses. After winning at the WTO and imposing significant U.S. duties on EU imports in response, USTR struck a deal with the EU to pause those duties in exchange for a mutual commitment to provide financing to large civil aircraft (LCA) producers on market terms. Yet, this summer, almost immediately after the EU extended this pause, the European Investment Bank awarded Airbus its largest loan ever to benefit Airbus projects in France, Germany, and Spain. Despite ongoing requests, USTR still has no details about this loan. This situation injects substantial uncertainty into transatlantic trade in the aerospace sector. 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."

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