In the old westerns, bandits would board trains and demand passengers turn over all their money upon pain of death. Everyone complied, the bandits happy with their take and the passengers relieved to live another day. And even though we are far removed from that time, that equation is still very much in play today, with Canada playing the victim to American banditry in the form of Donald Trump's relentless demands. However, as I have stated previously, most recently about the Gordie Howe Bridge, compliance comes with additional costs: the slow surrendering of our national sovereignty.
At an event Thursday in London, Ont., Carney was asked whether the $6.4 billion of investment made by Canada would be collected before profits from the bridge would be split with the U.S. side.
"It's not splitting the tolls of the bridge," Carney told journalists. "It is an agreement for 15 years to split net revenues.
"Any sharing of the toll revenue won't happen until all the debt, all of the debt, is repaid."
A report in The Globe and Mail suggests otherwise:
A 15-year side deal struck by Canada and the United States on the new Gordie Howe International Bridge will see Ottawa cut Washington cheques that amount to half the toll revenues minus operating costs for the span connecting Windsor and Detroit.
But Canada, which solely financed the $6.4-billion bridge, will not be subtracting any provision to repay debt from the annual payments to the United States, sources say.
A report in Bloomberg News , which has seen a copy of the arrangement, offers these details:
Canada and the US agreed to split the profit from a new bridge between Ontario and Michigan for 15 years — with no provision to cover Canada’s debt-service costs on the project, according to a copy of the pact seen by Bloomberg News.The agreement in principle covering the Gordie Howe International Bridge appears to contradict earlier public remarks from Prime Minister Mark Carney. And it shows what Canada conceded to get the President Donald Trump’s administration to stop blocking the 1.5-mile bridge over the Detroit River.
[T]he agreement makes no mention of Canada’s interest expenses or debt payments related to the bridge.
Under the original deal, Canada paid the entire C$6.4 billion ($4.6 billion) construction cost on the condition that it would collect all the toll revenue until it was repaid.
Where does the truth lie? That question can only be answered by a full public release of the new agreement. Anything less suggests a Canadian government embarrassed by yet another capitulation, another effort at appeasement, none of which have thus far produced anything more than new demands from the Trump administration. As noted by Andrew MacDougall:
If Howe were the only capitulation, that would be one thing. But it’s not.
Remember the Digital Services Tax? Binned off by Carney after Trump barked. Counter-tariffs to Trump’s? Rolled back, despite Carney’s pledge to go dollar-for-dollar. A revised U.S. trade deal? Still not done. Were these policies ever deliverable? Well, Carney said they were. So where are they? Our elbows are so far down they might as well be our feet.