Ex-Trump adviser Carl Icahn sold $31m in shares days before president announced steel tariffs

[Eugene]

Source: The Guardian

Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

Carl Icahn sold $31.3m of shares in a company dependent on steel imports days before the commerce department mooted stiff tariffs on imports

Dominic Rushe in New York
Fri 2 Mar 2018 17.39 GMT

Carl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trump’s announcement of new tariffs sent its shares plummeting.

Icahn, a billionaire investor who was a major Trump supporter, started selling shares in the crane and lifting equipment supplier Manitowoc Company on 12 February, days before the commerce department first mooted plans to impose stiff tariffs on foreign steel imports.

The news was first reported by Think Progress.

On Thursday Trump said he would press ahead with the commerce department’s plans to levy 25% tariffs on imports of steel and 10% on aluminium.

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Read more: https://www.theguardian.com/business/2018/mar/02/carl-icahn-shares-sell-trump-steel-tariffs-announcement-timing

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Related: Trump confidant dumped millions in steel-related stock last week (Think Progress)

[democratisphere]

1. Time to roundup all of the inside "traitors" and stock market manipulators and

through the f'ers in jail.

[Ernesto]

2. If this isn't a criminal case of "insider trading" what is? n-t

[quartz007]

3. I thought there is a law against insider trading?

May be Jesus spoke to Icahn!