Report: Trump Confidante Carl Icahn Dumped Steel Stocks Days Before Tariffs Announcement
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Carl Icahn sold off a $31.3 million stake in a crane manufacturing company days before the stock plunged, The Washington Post reports.
Brendan McDermid/Reuters
Billionaire investor Carl Icahn, a former adviser to President Trump, sold off millions of dollars in shares linked to the steel industry just a week before Trump's bombshell announcement of steep steel tariffs, The Washington Post reports. Citing a Feb. 22 SEC filing, the Post says Icahn dumped his $31.3 million stake in the Manitowoc Company, an international crane manufacturer, just days before the company's stock plunged to $26 per share following Trump's announcement of the new 25 percent tariffs. Icahn stepped down as a special adviser to Trump on regulatory reform issues last August, but the two are still thought to be in close contact. He resigned amid increasing scrutiny over whether he was using his White House role to push policies that would protect his investments.
