New secretary of commerce Wilbur Ross has ties to illicit Russian finance

New secretary of commerce Wilbur Ross has ties to illicit Russian finance

New secretary of commerce Wilbur Ross has ties to illicit Russian finance

Commerce Secretary-designate Wilbur Ross, center, listens to President Donald Trump during a meeting with House and Senate legislators in the Roosevelt Room of the White House in Washington, Thursday, Feb. 2, 2017. He also has pledged not to make new investments once confirmed.

Ross, a billionaire, made his fortune restructuring failing companies.

Mr Ross has indicated he will step down from his position as Vice-Chair of the bank to avoid any potential conflicts of interest. Education Secretary Betsy DeVos needed Vice President Mike Pence to cast an historic tiebreaking vote to push through her confirmation earlier this month.

Wilbur Ross arriving for his confirmation hearing before the Senate Commerce Committee in January.

The then commerce secretary nominee said countries that resort to "malicious" trading tactics should be "severely" punished. Data attained by Reuters through a Freedom of Information Act request shows that rescue effort came at a price: textile, finance and auto-parts companies controlled by the private-equity titan eliminated about 2,700 US positions since 2004 because they shipped production to other countries, according to a Labor Department program that assists workers who lose their jobs due to global trade.

National Zoo Says Last Goodbye to Bao Bao
Chinese embassy chefs will kick off the festivities with a dumpling party for zoo visitors and Bao Bao Thursday morning. At her first birthday zhuazhou (dra-JO) ceremony, she selected a banner depicting peaches, representing longevity.

Ross is set to become an influential voice in Trump's economic team and was expected to start work on renegotiating trade relationships with China and Mexico.

Supporters say Ross saved thousands of by rescuing firms from failure.

Ross's confirmation was largely uncontroversial, though Sen.

Some did criticise the appointment however, including prominent MA senator Elizabeth Warren, who described the choice as "disgusting".

After the swearing in, Ross welcomed the Democratic support and said the vote suggested that "perhaps, finally building America up again may become a bipartisan thing". Cory Booker and other Democrats asked the billionaire in recent days to clarify his business ties to Russian shareholders while serving on the board of directors of a Cypriot bank. A full vote is expected for Zinke later this week.