Lutnick: Under Gordie Howe Bridge agreement, the U.S. will receive 50 percent of revenues
Washington, July 18 (Hibya) - U.S. Commerce Secretary Howard Lutnick announced that under the new agreement on the Gordie Howe International Bridge, the United States will receive 50 percent of net revenues through 2041 and will have a say in setting toll rates.
U.S. Commerce Secretary Howard Lutnick said the United States had secured significant gains under the new agreement concerning the Gordie Howe International Bridge.
Lutnick noted that before the agreement, the United States received no revenue from the bridge, adding that under the new arrangement, 50 percent of net revenues will be transferred to the U.S. through 2041.
Lutnick also said the United States will have a role in determining bridge toll rates and that the country's share of revenues will be calculated before interest and principal payments.
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