Carl Icahn

Icahn denies prior knowledge of Trump's steel tariffs

Billionaire investor Carl Icahn denied having prior knowledge of President Donald Trump's plans to impose tariffs on imported steel and aluminum before he sold about $31 million of stock in steel-dependent Manitowoc Co.

"Any suggestion that we had prior knowledge of the Trump administration's announcement of new tariffs on steel imports is categorically untrue," Icahn said in a posting on his website Wednesday. "We reduced our position in Manitowoc for legitimate investment reasons having nothing to do with that announcement."

Icahn had served as an unofficial adviser to Trump, but stepped down in August due to criticism regarding the appearance of...