> ...bought the rights to their potential tariff refunds for 20% of the value...

So - with umpteen $billion on the line, and all the big-shot lobbyists and Washington insiders and experts that all those huge companies had on payroll to advise them - they decided to sell at 20 cents on the dollar.

Theory: When the far-smarter-than-us money bets big, they might know the actual odds.