The billionaire investor has a business relationship with Trump that goes back to the 1990s.
On Tuesday morning, the United States got a new secretary of commerce, Wilbur Ross.
The 79-year-old was sworn-in without major protest in a 72-27 Senate vote. And while there’s be little push back about the billionaire investor stepping into the position, there is a lot one should know about him.
First of all, Ross and President Donald Trump‘s relationship goes back to the 1990s when Ross kept Trump from being thrown out as an investor to the Taj Mahal casino. It should be known that Ross has made a career from restructuring failing companies.
In addition to his business acumen, Trump believes Ross was the perfect fit for the role having an interest in coal and steel, both sectors that Trump plans to ramp up.
One of the biggest road blocks that Trump faces is North American Free Trade Agreement, a trilateral trade block between the U.S., Canada and Mexico. In his new role, Ross will have the ability to negotiate major trade agreements like NAFTA to increase free trade.
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According to NBC News, Ross’ vast fortune was a top concern of lawmakers during his confirmation hearings. He promised to divest most of his assets and relinquish a number of positions he holds for other various companies. He also has pledged not to make new investments once confirmed.
After Ross was sworn-in today the Democrat turned Republican said, “perhaps, finally building America up again may become a bipartisan thing.”
We shall see.
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