‘Good deal for Canada:’ PM Carney insists not a lot of revenue to split with U.S. on Gordie Howe Bridge
https://www.ctvnews.ca/canada/article/good-deal-for-canada-pm-carney-insists-not-a-lot-of-revenue-to-split-with-us-on-gordie-howe-bridge/
‘Good deal for Canada:’ PM Carney insists not a lot of revenue to split with U.S. on Gordie Howe Bridge
https://www.ctvnews.ca/canada/article/good-deal-for-canada-pm-carney-insists-not-a-lot-of-revenue-to-split-with-us-on-gordie-howe-bridge/
33 Comments
LMAO why is he lying???
“Prime Minister Mark Carney is defending the deal brokered between Canada and the United States to open the delayed Gordie Howe International Bridge and insists the revenue split with the Americans will be minimal.
…
“We get the revenues. Then the servicing of the costs of the bridge and paying the debt of the bridge, and then what’s left over, there’s a split of that for 15 years,” he said.
The source also tells CTV News that the U.S. will need to agree if Canada wants to increase bridge tolls by more than 10 per cent or lower them below compared regional averages.”
So…. it’s the same as the plan before? They’re splitting the *profit*, not the revenue. Canada still gets paid back for the bridge probably on the same schedule as before if not just a little later.
You always knew Trump had no understanding of what the agreement was, then when they explained it to him to make him think he’s the one winning, he puts out a social media post claiming victory.
Friendly reminder that the US paid $0 for this bridge. So for them to get any of the net is an infinite return on a non-existent investment.
Just say we caved Mark and tell us why
Another lie. The US holding the bridge opening hostage until they could profit off the infrastructure we build is not a “good deal for Canada”.
Sounds like they are splitting profit. There will be no profit until the bridge is paid for. It’s the same deal that is reframed so Trump can feel like he won.
Even after Carney talks about it, we still dont know the full details. Something is up. Something was not said. Trump doesnt gleefully go on line saying it’s a much better deal and then it sounds like it was the same as the deal before.
Carney needs this win against the States badly. If he’s not willing to explicitly talk about it, i feel like there’s something more he’s not telling us
The Government should ensure that there is no net profit. Accounting for this is entirely up to Canada and we should be able to use any projected profit to hire more Canadians to perform maintenance, security checks, and what not.
Even after the bridge is paid off, I want to see ridiculous expenses to Canadian goods and services that keep 100% of the would be profit inside Canada.
ITT: a lot of people who don’t understand revenue vs. profit or how debt repayment schedules work
So as anyone who’s been following the news for the last year and a half could have already told you – Trump and his people lied through their fucking teeth to make it seem like they had strong-armed us into selling the farm.
At first I was upset about this.
Hearing that debt repayment will continue as was originally designed, this is definitely the right thing to do.
Letting Trump feel good is helpful and doesn’t cost much.
Good work in dealing with the toddler 🙂
I’d rather we just keep it closed until sanity returns to the oval office
How can this be a good deal. There was a deal in place and America, Trump broke it. How is this good. Especially given that Trump and his acolytes can change any agreement at any time regardless of the contract.
Come on man, we see what has happened. Fuck that country z but don’t give up. This is a horrible misstep from Carney.
So it’s basically the deal that was already in place.
So the real loser here is the state? Any word on this “fund”? Is it a slush fund for the Trump family or Moroun family or for the state?
The dark part of me was hoping this would wait until midterms so that it would continue to be an issue, but I guess it’s better to have it open and bring in some money rather than no money.
Close the bridge Friday at 4 and open it Monday at 9.
Zero. Should be going to the US. Actually Zero.
As is his wont, Trump appears to be able to tear up signed deals whenever he wants, and change the terms at will. I can understand that Carney had to agree to the revised deal because otherwise we would be completely screwed. And he won’t be able to do anything about it until the orange haired freak is gone because trump has more bullshit in his arsenal that he can throw.
However, once he is gone, would it be feasible to shut down the Ambassador Bridge for a few months (or years0 to complete the sadly needee repairs to the Canadian Customs buildings there. As well as fixing up the Customs buildings, this would have the added benefit of accelerating the debt repayment as well as screwing the Maroun family which created this fu in the first place.
One of the trends that I hope expires with the current US presidency is the idea and term “deal” in geopolitics. It isn’t a deal, it’s an agreement, a conciliation, a pact, a … anything but what you see when you’re going down the Walmart aisle and notice peanut butter is 4.99 and not the regular 6.99.
I get it, its populism, his base gets the concept that he’s getting a good deal. But why must our media and politicians shove our heads down in the same terminological stupor?
We had to renegotiate terms of an agreement. One that sucks, but we can argue the merit. We did not grab the best-before can and get a “deal”
The net profit splitting is not a significany change.
The key point is “U.S. will need to agree if Canada wants to increase bridge tolls by more than 10 per cent or lower them below compared regional averages.”
This will ensure that tolls will not be significantly lower than those of the bridge owned by the Moroun family, which donated heavily to Trump to ensure this exact outcome.
A lot of people are going to be deleting their comments from the last couple of the days.
Other than wording I do not seeing a difference between the new one and the one from 2012
I’m annoyed that Carney caved, but it is entirely possible that the lost income from having the bridge open was expected to exceed the lost income from half the tolls to use the bridge.
Carney’s been pretty spot-on with his assessment of finances, so I’m inclined to give him the benefit of the doubt here. I am CERTAINLY not able to second-guess this balance from my lazy-boy armchair.
People are badly missing the important part of this:
_the U.S. will need to agree if Canada wants to increase bridge tolls by more than 10 per cent or **lower them below compared regional averages.**_
It’s destroying any sort of price competition so that Trump’s buddy’s bridge next door can keep its profit margins (and crank em up without fear to boot)
It’s either a profit or a revenue split…not both. And taking Carney as less likely than Trump to deliberately (or delusionally in Trump’s case) distort facts, sharing profit 15 years after initial payback is ridiculous when the U.S. didn’t pay for the bridge and has no responsibility to contribute to ongoing maintenance and ultimate replacement.
**Trump administration wins power to prevent price competition against Ambassador Bridge to enrich his donor**
I speculated in reddit comments yesterday that I suspected Canada was not really giving up much of anything. And per the CTV interview this is the case.
And should any money be available to parcel out as profit the American portion will go into a fund for the region. Which really I see nothing wrong with either.
The big loser is the Moroun family that owns the Ambassador bridge. Their worst nightmare was the Gordie Howe bridge opening. They fought tooth and nail using every dirty trick in the book. And the day it opens their failure will be consecrated.
Once this is operational, It’s time to rehabilitate the roads leading to the Ambassador Bridge. It should be done very meticulously and carefully for safery as it was used far too long and ageing infrastructure needs extra attention. Should take as long as it took the Gordie Howe to built.
Normally, I support Carney. By on the surface this looks terrible. We have given concession after concesion and the USA hasn’t budged. I hope we dump the F35 and buy/build the Grippen.
Lower the tolls so it just breaks even.
so we spent the money to build it, and we give the USA 50% of any profits (if any) — and somehow we are still ahead on this deal? Just seeking clarification.