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Senators Press Howard Lutnick’s Former Investment Firm Over Tariff Conflict of Interest Concerns
Senators Ron Wyden and Elizabeth Warren are demanding answers from Cantor Fitzgerald after WIRED reported that the firm was essentially creating a way for clients to bet on whether Trump’s tariffs will be struck down in court.
In response to WIRED’s reporting, Democratic senators Ron Wyden and Elizabeth Warren sent a letter to Cantor Fitzgerald chairman Brandon Lutnick on Wednesday demanding more information about the firm's activities. “Given that one of the purported architects of President Trump’s tariff policy is Commerce Secretary Howard Lutnick, your father and the former Chairman and CEO of Cantor Fitzgerald, LP, the firm’s actions raise obvious conflict-of-interest and insider dealing concerns,” the lawmakers wrote. But according to WIRED’s previous reporting, the investment bank that made Lutnick a billionaire was recently letting certain clients wager that Trump’s tariffs will eventually be ruled unlawful, at which point companies that have paid the import duties could apply to get their money back.
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