Carl Icahn

Shortly before Trump announced tariffs, former adviser Carl Icahn dumped millions in steel-related stocks

Shortly before Trump announced tariffs, former adviser Carl Icahn dumped millions in steel-related stocks

President Donald Trump's decision Thursday to impose crippling tariffs on the imports of steel and aluminum took many by surprise - particularly investors, as the Dow Jones Industrial Average closed the day's trading down more than 400 points, or 1.7 percent, at 24,608.

But one billionaire investor and former Trump adviser, Carl Icahn, was seemingly unvexed, having dumped a million shares tied to the steel industry a week before the president announced 25 percent for foreign-made steel.

A Feb. 22 SEC filing shows Icahn sold off his $31.3 million stake in the Manitowoc Company, which is a leading global manufacturer of cranes for heavy construction based in Manitowoc, Wis.,...

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