Wilbur Ross approved as US Commerce Secretary

Tuesday, 28/02/2017 18:32
The US Senate on February 27th vote 72-27 to confirm billionaire Wilbur Ross as Trump's Commerce Secretary.

Mr. Wilbur Ross approved as Commerce Secretary (Photo: AFP/VNA)

Ross is the 14th member of Trump’s Cabinet to be confirmed, with seven nominees still to be voted on.

White House Press Secretary Sean Spicer described Ross as "an important champion for US struggling industries in the private sector" and said he would officially be sworn in February 28th, assuming a successful confirmation vote.

Former Commerce Secretaries have praised him, including one who served under former President Barack Obama.

"I believe his extensive management experience in the private sector, and his understanding of the challenges faced by workers and businesses alike, will equip him well for the job of leading the Department of Commerce," said Sen. John Thune, Chairman of the Commerce Committee.

Ross will join other major players on the economic team, including US Treasury Secretary Steven Mnuchin and Gary Cohn, director of the White House National Economic Council.

Ross, born in 1973, was a banker, known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses.

As of February 2017, Forbes magazine lists Ross as one of the world's billionaires, with a net worth of USD2.5 billion./.

 

 

 

 

 

Compiled by BTA

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