The Project for Government Oversight is calling for the Securities and Exchange Commission to launch an insider trading investigation into why billionaire and Trump associate Carl Icahn sold $31 million in steel-related stocks in the days before Trump publicly announced the new tariffs. Icahn sold off more than a million shares of the crane manufacturer Manitowoc Company, which is heavily dependent on steel imports. The company’s stock price went on to fall after Trump’s public announcement of the 25 percent tariff on steel. Carl Icahn served as special economic adviser to President Trump before he resigned in August, after The New Yorker magazine raised concerns about conflicts of interest, including Icahn’s heavy lobbying for a rule change that affected the profits of his Texas-based petroleum refining company.
Carl Icahn Sold Steel-Related Stocks Days Before Trump Announced Tariffs
HeadlineMar 07, 2018