- cross-posted to:
- world@quokk.au
- cross-posted to:
- world@quokk.au
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Cool. Another thing to look at while I don’t visit the Yanks.
Note to self as a Canadian: Never trust the USA.
I think going forward we avoid any partnership type deal like this. The US can’t be trusted to uphold their end of the deal - or anything else for that matter.
Carney caved and is splitting the tolls with the USA.
No that’s not what happened.
Carney conceded 50% of net profits because that gives the baby his candy. But net profits is calculated after paying back the construction debt and interest which is wholly owned by Canada. In addition, there’s some sort of economic development fund that’s jointly contributed to by the Canada and US, not a bad idea I guess. The big concession was giving the US veto power over toll changes for the bridge.
That’s what was originally negotiated. Trump demanded the split immediately. Carney caved to open the bridge.
Originally, Canada was to receive all profits and have complete power over toll prices until we recouped all our costs. At that point it would be 50/50.
The new deal is fine. I don’t know what the “caving in” narrative is about.
The USA is collecting $3b because Trump stongarmed Canada.
How?
The ambassador bridge makes like $100M a year in revenue. The cost of the new bridge was $6.4B once you tack on interest there will be hardly any net profits left to split.
I’m sorry, but this argument makes no sense.
We both know the original deal was Canada was to receive all the toll money until the costs ($6.4B) was recouped. Now the USA receives half the tolls, or effectively $3.2B for contributing nothing. Those are just the facts. You can say it doesn’t matter, but it’s still $3.2B because of a shakedown, not a negotiation.
Ok so here’s the problem. In the politest way possible, you don’t understand the new deal.
Canada owns the 6.4B in costs to construct the bridge. This includes the debt and interest.
Canada WILL RECOUP ALL COSTS TO CONSTRUCT THE BRIDGE. DEBT WILL BE PAID OUT. YOU HAVE TO PAY THE DEBT AND INTEREST IN ORDER TO GET NET PROFITS.
After the debt is paid you get net profits. These net profits will now be split 50/50. Previously, Canada was to receive all of the net profits in an effort for Canada to recoup the costs of construction faster. Then the split would be 50/50.
If I’m understanding this correctly, we paid the full cost to build GH, and now the USA gets half the income AND we’re not allowed to charge less than the Ambassador (only 2 months ago, the plan was tolls would be half the price).
Has the billionaire Moroun family finally been appeased?
High school history books should have a chapter about this filthy saga. Land of the freeloaders: The battle for a new cross-border bridge (2015)
No the US gets half the Net Profits which is calculated after the construction costs and debt are paid. For the first few years the net profits will be essentially nothing.
We’re still allowed to set the toll prices but and toll change of 10%+ requires US approval.
The new deal is fine
The smart thing to be doing is going nowhere near the states under any circumstances until there is a change and peops won’t be getting sent to Alligator Auschwitz death camps to fill their coffers. For me, it’s too late. I will never go there ever again.
It depends on which way the wind is blowing on that particular day, as to whether it’ll happen or not.
No, this time it is happening, because Carney folded to US demands. Again.
The U.S. government would receive 50% of the bridge’s toll revenue and be able to veto any toll increase that is 10% over the current tolls, according to Reuters. Commercial shippers that sign up for the Gordie Howe Bridge’s “Breakaway” discount toll program will pay charges of 6.90 U.S. dollars per axle, according to rates that the new bridge’s operators announced in March.
Fuck this spineless worm. The Canadian branch of Starmer Enterprises.
This article is wrong about the deal parameters. Strange
