Referencing ‘Art of the Deal,’ Lutnick says U.S. will get 50% of net revenue on Gordie Howe bridge

Skip to Content Subscribe Our Offers My Account Manage My Subscriptions FAQ Newsletters Canada Canadian True Crime Canadian Politics Health World Israel & Middle East Financial Post NP Comment Longreads Puzzmo Diversions Comics NP News Quiz New York Times Crossword Horoscopes Life Eating & Drinking Style Sponsored Play for Ontario Travel Travel Canada Travel USA Travel International Cruises Travel Essentials Culture Books Celebrity Movies Music Theatre Television Business Essentials Advice Lives Told Tails Told Shopping Buy Canadian Home Living Outdoor Living Kitchen & Dining Tech Style & Beauty Personal Care Entertainment & Hobbies Gift Guide Travel Guide Amazon Prime Day Deals Savings National Post Store More Sports Hockey Baseball Basketball Football Soccer Golf Tennis Driving Vehicle Research Reviews News Gear Guide Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Working Business Ads Archives Healthing Epaper Manage Print Subscription Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ Newsletters Canada World Financial Post NP Comment Longreads Puzzmo Diversions Life Shopping Epaper Manage Print Subscription This advertisement has not loaded yet, but your article continues below.HomeNewsCanadaReferencing 'Art of the Deal,' Lutnick says U.S. will get 50% of net revenue on Gordie Howe bridge'The USA struck a great deal with respect to the Gordie Howe Bridge,' the Commerce Secretary wrote in a social media post on SaturdayLast updated 14 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.U.S. Commerce Secretary Howard Lutnick attends an event in the Oval Office of the White House on April 23, 2026. Photo by Alex Wong /Getty ImagesAmid the confusion over precisely what deal Canada struck with the U.S. to open the Gordie Howe International Bridge, U.S. Secretary of Commerce Howard Lutnick has weighed in on social media with his own calculations.THIS CONTENT IS RESERVED FOR SUBSCRIBERSEnjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. 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Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account“The USA struck a great deal with respect to the Gordie Howe Bridge,” he wrote in a social media post on Saturday. “Before this deal we got NOTHING. Now, the U.S. gets 50% of net revenues until 2041 and a say in setting the tolls. Our share is before interest and principal.”He added: “This is the Art of the Deal in action,” a reference to Donald Trump’s 1987 memoir and business advice book ghostwritten by Tony Schwartz.Get a dash of perspective along with the trending news of the day in a very readable format.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of NP Posted will soon be in your inbox.We encountered an issue signing you up. Please try againThe government of Canada announced on July 10 that the bridge, originally slated to open early in 2026, then briefly slated for June 12, would in fact open on July 27. The span connects Windsor, Ont., and Detroit, Michigan.Without mentioning specific numbers, the government said the opening plan included “a series of cooperative measures focused on toll governance and transparency” between the two countries, “as well as investments in the region, including through the establishment of a 15-year economic development fund tied to a portion of profits from bridge operations.” People fish in the Detroit River in front of the Gordie Howe International Bridge in River Rouge, Michigan, on June 12, 2026. Photo by Jeff Kowalsky/BloombergLast week, during a media event in London, Ont., Prime Minister Mark Carney said there would likely be little revenue to share with the U.S. in the first few years after the bridge opened because the tolls will not be split until the $6.4-billion cost fronted by Canada has been fully repaid.“We expect that after those costs, for the first few years, net revenues will be modest,” Carney told reporters. “In fact, we expect them to be negative as traffic ramps up. So, negative to modest in the first few years.”However, on Friday Pierre Poilievre called out Carney for making “contradictory statements” on revenue sharing. In a letter shared on social media, the Conservative leader wrote: “Canada paid for 100 per cent of the cost of building the Gordie Howe International Bridge under the simple promise that we would collect 100 per cent of the tolls until the cost was repaid.”Poilievre continued: “While answering questions about the deal, you made directly contradictory statements about what you’ve given away.”He noted that Carney had said the deal is “not splitting the tolls of the bridge,” but that it is “an agreement for 15 years to split net revenues,” and “any sharing of the toll revenue won’t happen until all of the debt is paid.”Carney told CTV News on July 12: “We are sharing after Canada is paid back. So we get the revenues, then the servicing of the cost 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.”Annual interest on the construction cost would be hundreds of millions of dollars, and factoring that in that would reduce the profit and therefore the U.S. share.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.However, a U.S. official who did not want to be named told Bloomberg that neither loan interest nor depreciation would be factored into the calculation. That would suggest fewer expenses to offset the revenue and, thus, a larger share for the U.S.Neither country has published the text of the deal. On Tuesday, Carney’s spokesperson Audrey Champoux said that “officials in both countries are working to finalize the specific legal and administrative details of this arrangement.”As to Lutnick’s remark that the U.S. will have “a say in setting the tolls,” Reuters and Canadian Press have both reported that the U.S. can veto any change in tolls of more than 10 per cent.Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our daily newsletter, Posted, here.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.