Trump confidant dumped millions in steel-related stock last week

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The filing came just seven days before a White House event where Trump announced his intention of imposing a 25 percent tariff on steel imports.

Carl Icahn, a billionaire investor and Trump's former "special adviser to the president on regulatory reform", sold the shares between February 12 and February 22, according to an SEC filing that was first reported on by the left-leaning website ThinkProgress.

Icahn, a billionaire investor with far-flung holdings, is a close associate of Trump - who invoked Icahn's name repeatedly on the campaign trail.

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Icahn, ThinkProgress reports, "dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports".

Filings show that until February 12 of this year, Icahn had not actively traded his stocks in Manitowoc since January 2015.

"In an interview on CNBC on Thursday, Icahn appeared to acknowledge at least occasional ongoing conversations with Trump, saying the two had not had 'much' interaction in the last four to five months". His involvement ended when he surrendered control in 1993.

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"We must protect our country and our workers". Reuters mentioned that the company's stock fell more than 6 percent Thursday in a story about how companies around the world were reacting to the tariff announcement. The European Union, for example, is considering duties on United States imports worth about $3.5 billion if the White House enacts its tariffs, Reuters reported Friday. It began in the early 1980s, when Trump tried to win Icahn over with a helicopter ride. Many were surprised to see President Trump name him as Special Advisor to the President on Regulatory Reform previous year.

During the announcer's roll call of famous guests, Icahn was called Trump's "good friend", according to the New Yorker. Trump's share of the casino, about 50 per cent, was a generous one, but Icahn articulated that investors could still boot Trump out.

Tensions appeared to have eased by the time Trump ran for president, as he called Icahn one of the "great businessmen of the world", smart enough to tackle US negotiations with China. Although he now serves no formal advising role, the two still talk. Icahn remains Manitowoc's fifth-largest holder with about 4.8 percent of the company's common shares.

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