CHICAGO — Michigan and Canadian officials Friday announced an agreement to build a new $4 billion, largely bond-financed trade bridge that has Canada taking on nearly all of the financial risk for the massive project.

The New International Trade Crossing will mean a second over-water crossing of the Detroit River between Detroit and Windsor, the busiest trade crossing in the United States. The only span now is an 83-year-old, privately owned bridge two miles upriver from the new project.

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