Investment firms are on track for an enormous payday after the Supreme Court of the United States (SCOTUS) struck down President Donald Trump’s signature tariff policy on Friday.
When Trump introduced sweeping tariffs on foreign goods last April, hedge funds and specialist investment firms began to bet on the possibility that the courts might rule that he had violated the law. They did that by purchasing the right to theoretical tariff refunds at cents on the dollar from struggling importers who wanted to swap the possibility of a future refund for an immediate cash payment.
“We were like, [Trump] is capriciously applying the law,” says Thomas Braziel, founder of investment firm
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