Carney says U.S. will split ‘modest’ Gordie Howe bridge net revenues after debt paid
Canada will share modest net revenues with the United States for 15 years after debt and operating costs are repaid, Carney said.
- The Gordie Howe International Bridge will finally open on July 27 following a new revenue-sharing agreement between Canada and the United States on net profits after debt repayment.
- President Donald Trump previously threatened to block the opening earlier this year, demanding the United States receive at least half the asset, while the Moroun family lobbied to protect their competing Ambassador Bridge.
- Canada fronted the entire $6.4 billion construction cost, and under the 15-year deal, Ottawa will share 50 percent of net profits with the United States once operational expenses and debt are fully covered.
- Prime Minister Mark Carney said expected net revenues will be "modest," clarifying that sharing occurs only after toll proceeds cover operational costs like toll booths, maintenance, and snow removal.
- The bridge provides a vital connection for the Windsor-Detroit corridor and remains a symbol of cooperation intended to reduce congestion on the competing Ambassador Bridge serving the region.
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42 Articles
Carney says US will split 'modest' Gordie Howe bridge net revenues after debt paid
Under a new deal negotiated with US President Donald Trump, Canada will no longer keep 100 per cent of the revenues until the cost of building the bridge is paid back, as was the deal Ottawa signed in 2012 with former Michigan governor Rick Snyder, a Republican.
Carney Defends New Gordie Howe Bridge Deal With US
Prime Minister Mark Carney answered reporters’ questions on July 16 about Canada’s revised toll-collection agreement with the United States for the Gordie Howe International Bridge, though many details remain unclear. Under the previous agreement signed in 2012, all of the toll revenue for 36 years was to go to the Canadian government, given that it agreed to finance the full construction costs for the bridge, which came to $6.4 billion. After C…
Mark Carney remains unclear about the agreement with Donald Trump regarding the revenue sharing of the future Gordie-Howe Bridge linking Ontario to Michigan.
TVA Nouvelles
24 heuresVery little detail had so far been revealed by the Canadian government.
Carney: Canada won’t share bridge tolls with the U.S. until debt is repaid | Honolulu Star-Advertiser
OTTAWA >> Canada will not share with the United States toll revenues from a new $4.7 million bridge connecting Windsor, Ontario, and Detroit, Michigan, until Canada recoups its initial investment, Prime Minister Mark Carney said on Thursday.
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