Wilbur Ross Confirmed As Commerce Secretary

Posted: Feb 27, 2017 8:30 PM
Wilbur Ross Confirmed As Commerce Secretary

The U.S. Senate confirmed President Trump’s nominee for commerce secretary, Wilbur Ross, in a 72-27 vote. With Ross now confirmed, Bloomberg reported that the Trump White House can get moving on renegotiating trade deals, specifically the North American Free Trade Agreement.

At his confirmation hearing, he said that he’s pro-sensible trade, which means any agreement that doesn’t put our manufacturing base in the crosshairs:

Ross will be one of the most seasoned business leaders on Trump’s economic team. As a private-equity investor, he restructured companies across a range of industries including steel, banking and textiles. Bloomberg values his fortune at $3 billion, and in financial disclosures released last month, he revealed assets topping $336 million, including at least $150 million held in bank accounts and an art collection worth more than $50 million.

In an ethics agreement released before his confirmation hearing, Ross said he’ll resign his positions with 38 entities. Those include Invesco Ltd., which bought Ross’s private equity firm in 2006, as well as seven named subsidiaries.

Yet, there's this friendly reminder: