bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Tribune News Service

President Trump’s billionaire buddy Carl Icahn dumped US$31.3 million in steel-related stock days before the White House announced its intention to impose steep tariffs on steel imports.
In a recent Securities and Exchange Commission filing, Icahn disclosed that he sold nearly 1 million shares of Manitowoc Company, a Wisconsin-based global crane manufacturer.
The left-wing Think Progress policy website first reported on the filing on Friday.
Wall Street reeled in recent days after Trump’s announcement regarding a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminium.
Manitowoc stock fell sharply, losing roughly 6 per cent of its value.
Icahn unloaded his shares of the crane company on February 12, days before the Commerce Department released a report recommending the tariffs that Trump later championed.
Icahn was not immediately available for comment.
The ultra-wealthy investor was floated as the president’s first choice for Treasury secretary and while campaigning for president, Trump mentioned his name often.
He declined to serve in the Trump administration, but accepted a role as a special adviser on regulation.

Icahn was subpoenaed by federal investigators in November over questions about his position as an informal adviser to the administration.
The 81-year-old stepped down from the post last summer after Democratic lawmakers argued that his appointment skirted ethics standards and raised concerns about his attempts to influence biofuel policy.
Icahn, who is worth an estimated US$17 billion, owns a majority stake in CVR Refining, an oil company.
Democrats claimed he made no attempt to separate himself from his business interests while working with the Trump administration.
Icahn denied any wrongdoing or conflicts of interest.
“I never had a formal position with your administration nor a policymaking role,” he wrote to Trump at the time of his resignation. “And contrary to the insinuations of a handful of your Democratic critics, I never had access to non-public information or profited from my position, nor do I believe that my role presented conflicts of interest.”
Icahn told CNBC on Thursday that he was not worried by Trump’s talk of a trade war, saying he was more concerned about interest rates and inflation.
“I’m not concerned about a trade war,” Icahn said. “I think the major thing you have to worry about and think about is creeping inflation.”


Trump seeks to limit legal options for government workers to contest dismissal

Epstein accomplice Ghislaine Maxwell seeks Trump clemency before testimony

Why China is worried that Japan election may prompt change to pacifist constitution

China urged to ‘harshly’ punish Panama over court’s canal ruling

Donald Trump

Trump’s billionaire buddy Carl Icahn dumped steel-related stocks days before tariff talks

File photo of billionaire Carl Icahn. Photo: Reuters

(FILES) This file photo taken on March 13, 1990 shows investor Donald Trump (R) with Carl Icahn, Chairman of Trans World Airlines, before presenting Icahn with the Starlight Foundation "Man of the Year" award in New York. Icahn has stepped down as special regulatory adviser to US President Donald Trump, according to media reports on August 18, 2017. Icahn in a letter to Trump resigned citing "partisan bickering" over his role in the administration, which was criticized as being a conflict of interest. / AFP PHOTO / MARIA R. BASTONE

News

World

United States & Canada

US-China trade war: All stories