Canada

Silly people. Amortization is part of 'operating expenses'. That pretty much means that the depreciation on the bridge all comes off before Canada calculates what it pays to the States. It pretty much covers the interest on the debt, and a good chunk of the debt itself. So the debt payments are disguised as 'amortization'. Usually, depreciation is added back through an entry in cash flow. which goes to the Canadian government.

Whoever says that 'bridge debt' is not included in the side agreement just does not understand accounting. Of course, Trump does not understand it, either.

Canada and the United States have reached agreement in principle on the following:

1. Economic Participation: Canada will provide annual economic participation payments, outside the 2012 Canada–Michigan Crossing Agreement equal to fifty percent (50 per cent) of net bridge and crossing related revenues for the first fifteen (15) fiscal years of bridge operations. Net bridge and crossing related revenues is all revenues collected with respect to the bridge, less all incurred operating costs of the bridge. Such payments shall be made to a United Sates-Canada Economic Development Fund, established and solely controlled by the Government of the United States.

2. Eligible Fund Commitments: Canada and the United States will reasonably agree on the objects of the United States-Canada Economic Development Fund, which will be for the benefit of the United States and trade between Canada and the United States.

3. Toll Governance: Canada will direct the Windsor-Detroit Bridge Authority (WDBA) to inform the Government of the United States regarding proposed toll-rate adjustments during the first fifteen (15) fiscal years of bridge operations and to seek the United States’ consent where:

a. a proposed toll-rate increase (i) exceeds ten percent (10 per cent) within any fiscal year and (ii) would result in toll rates that are above the average of comparable regional crossings; or

b. a proposed toll-rate reduction would result in toll rates falling below the average of comparable regional crossings.

The Government of the United States must provide its consent or notice of withholding of such consent within thirty (30) days of notification from WDBA, failing which consent shall be deemed to have been provided.

4. Crossing Agreement: Nothing in this Agreement in Principle shall be interpreted as amending, modifying or superseding the 2012 Canada–Michigan Crossing Agreement or the ownership, governance and financial framework established thereunder.

5. Implementation: Officials will develop and finalize the legal, financial and administrative arrangements necessary to implement this Agreement in Principle as expeditiously as possible.

6. Bridge Opening: Upon confirmation of this Agreement in Principle, the Parties will direct their respective officials, agencies and authorities to undertake all actions necessary to open the Gordie Howe International Bridge to commercial and passenger traffic on or before 27 July 2026. The Parties, along with the State of Michigan, shall also work together to hold a ceremonial opening event no later than 3 August 2026.

• Canada nixes cross-border celebrations for Gordie Howe Bridge opening after new tariffs
• Lutnick boasts U.S. will get 50% of net revenue on Gordie Howe Bridge, calls it ‘Art of the Deal’

Good grief, it's not a "deal" at all - "proposed agreement in principle" indeed. With no definition of "operating costs," it's pretty much a worthless piece of paper.

There's also some confirmation that the US would have a say in toll reductions, not just increases as was reported last week.

As an exercise in kicking the can down the road, it's...fine. As an ironclad agreement, it sucks.

This bridge is a nightmare.

I wonder if "net revenue" is gross less Canada's debt payments at a fixed amount?

People want clarity on how things will play out 15 years into a deal made with Trump? He can't be counted on for a deal to last 15 days.