This is a report from the U.S. magazine Wired. Howard Lutnick's family company, Cantor Fitzgerald, has been acquiring the right to claim tariff refunds that U.S. companies may be entitled to at extremely low prices (they propose to buy the refund rights at 20% to 30% of the tariffs already paid by the companies).
This means: Although Lutnick is promoting that the U.S. should impose tariffs everywhere, his family company is essentially betting that Trump's tariff policies will be overturned in court.
If the U.S. courts overturn these tariff policies, companies that have already paid tariffs will receive refunds — but the compensation will go to the current holders of the claims. Who do you think will make a big profit? The Lutnick family.
Original article: https://www.toutiao.com/article/1838837624827915/
Statement: This article represents the views of the author himself.