Hello and welcome to the details of US official warns EU Airbus loan puts trade deal at risk and now with the details
Nevin Al Sukari - Sana'a - US Trade Representative Jamieson Greer expressed concern that his office had received “no details about this loan” and pressed for the situation to be “resolved as soon as possible.” — AFP pic
SAN FRANCISCO, Oct 27 — A tariff truce between the European Union and United States is potentially at risk due to a multibillion-dollar loan approved by the bloc’s investment bank for Airbus this summer, President Donald Trump’s top trade official said yesterday.
US Trade Representative Jamieson Greer expressed concern that his office had received “no details about this loan” and pressed for the situation to be “resolved as soon as possible.”
“I had sincerely hoped that trade-distorting European subsidies to Airbus were a thing of the past,” Greer said in a statement. The EU has rejected the claim.
“This situation injects substantial uncertainty into transatlantic trade in the aerospace sector,” he continued.
In June, the European Investment Bank (EIB) said it would provide Airbus with a record €3 billion (RM13.7 billion) in financing to boost its research and development.
An EU spokesperson said Tuesday Brussels remained “fully committed” to a 2021 deal and the financing was “fully in line” with the agreement with Washington.
Under the deal, the two sides vowed any financing for the production or development of large civil aircraft would be provided on market terms.
“The loan supports a broad, multi-year research and innovation programme across commercial aviation, defence and security. It is not launch aid for a specific new aircraft programme,” the spokesperson said in a statement.
“The European Commission is in close contact with USTR on the terms of this loan and will provide all necessary information,” the spokesperson added.
The deal came after the United States and European Union had been squabbling over alleged unfair trade practices since 2004, with both sides claiming the other provided support to private companies, such as aircraft manufacturers Boeing and Airbus, in violation of international trade agreements.
The 17-year-long feud saw the United States and EU impose tariffs on billions of dollars worth of each other’s products.
But in 2021, a five-year deal was agreed between both sides under former president Joe Biden’s administration.
Neither side has reimposed the tariffs since. — AFP
These were the details of the news US official warns EU Airbus loan puts trade deal at risk for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
