NEW YORK — Billionaire investor Carl Icahn denies that he had any prior knowledge of President Donald Trump’s plans to impose tariffs on imported steel and aluminum when he sold about $31 million of stock in a steel-dependent company last month.
“Any suggestion that we had prior knowledge of the Trump administration’s announcement of new tariffs on steel imports is categorically untrue,” Icahn said. “We reduced our position in Manitowoc for legitimate investment reasons having nothing to do with that announcement.”
Trump announced the tariffs last week. Icahn sold almost 1 million shares in The Manitowoc Co. from Feb. 12 through Feb. 22.
Icahn had served as an unofficial adviser to Trump, but stepped down in August due to criticism regarding the appearance of possible ethical conflicts.