Former Trump adviser shed millions in steel-related stock weeks ahead of tariff announcement

 A former Trump adviser is raising eyebrows in the investment community after disclosing a multi-million dollar sell-off in shares of a construction company reliant on steel just weeks before the President announced a 25 percent tariff on steel imports.

Carl Icahn, a billionaire investor and former special adviser to President Trump, disclosed in a February 22 SEC filing that his companies had shed a $31.3 million stake in Manitowoc. The company, according to its website, is a leading “manufacturer of cranes and lifting solutions with manufacturing, distribution, and service facilities.”

Manitowoc’s share value dropped 6 percent on Thursday after President Trump’s steel tariffs announcement, and on Friday shares hovered around $26. When Icahn sold off his Manitowoc holdings in mid-February, shares were trading between $32 and $34.

Icahn served as a special adviser to President Trump until August of 2017.



Source: abcnews.go

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