Lutnick Family Profits From Tariff Reversal
The legality of issuing refunds for illegally collected tariffs remains a significant point of discussion, with the federal government’s actions yet to be clarified. However, reports suggest that substantial bets have been placed by individuals connected to the White House, particularly the family of Commerce Secretary Howard Lutnick, on the expectation that these tariffs would be overturned. This anticipation stems from Cantor Fitzgerald, a firm now headed by Lutnick’s sons, which reportedly engaged in acquiring rights to tariff refunds at significantly reduced prices. While Cantor Fitzgerald has since issued denials regarding any transactions or risk-taking related to the legality of tariffs, previous reports indicated the firm’s capacity to acquire hundreds of millions of dollars in such rights, suggesting potentially astronomical financial implications.
John Q. Hosedrinker