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Carl Icahn Denies Knowing About Trump Tariffs Before Selling Stocks

The ex-Trump adviser called any suggestion of insider trading “categorically untrue.”

Carl Icahn, a former advisor to President Trump, denied knowing about the president’s plans to implement steel and aluminum tariffs prior to selling his stock in Manitowoc, a construction equipment producer that uses steel. In a statement provided to CNBC, he said, “Any suggestion that we had prior knowledge of the Trump administration's announcement of new tariffs on steel imports is categorically untrue. We reduced our position in Manitowoc for legitimate investment reasons having nothing to do with that announcement.” According to SEC filings, Icahn sold one-third of his stakes, with the sales totaling about “about $31 million.”