• Investor Carl Icahn, a former adviser to President Donald Trump, denied having any knowledge of new steel and aluminum tariffs prior to their announcement.
  • Icahn sold roughly $31 million worth of crane manufacturer Manitowoc's stock in February, shortly before the announcement of new tariffs on steel.
  • Manitowoc uses steel as an input for its cranes.

Investing legend Carl Icahn denied having any knowledge of President Donald Trump's decision to impose tariffs on imports of steel and aluminum after questions were raised about Icahn's sale of a steel-related stock before the announcement.

Icahn, who has advised Trump, said the sale of more than 1 million shares of crane manufacturer Manitowoc was not connected to the tariffs. The company uses steel as a primary input for its products.