Senate confirms billionaire investor Wilbur Ross as commerce secretary

Senate confirms billionaire investor Wilbur Ross as commerce secretary

Senate confirms billionaire investor Wilbur Ross as commerce secretary

Billionaire investor Wilbur Ross was sworn in as USA commerce secretary on Tuesday after helping shape Republican President Donald Trump's opposition to multilateral trade deals.

Remarking on Mr. Ross" confirmation, AAPA President and CEO Kurt Nagle said: "We look forward to working with Secretary Ross to enhance America's global competitiveness and increase USA exports.

After all, as discussed below, since the 1990s Cyprus has served as one the top three offshore destinations for Russian and former Soviet Union flight capital, most of it motivated by tax dodging, kleptocracy, and money laundering.

Senators from both political parties were deferential to Ross at his almost four-hour confirmation hearing, which was much more subdued than the confirmation hearings of other Trump nominees.

Ross is notorious for buying failing companies, slashing jobs and selling them off.

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Worth an estimated $2.9 billion, Ross has extensive business ties around the globe.

Ross has also sought to ease concerns about whether the White House would try to politicize climate science.

Democrats' questions of Ross's ties with Russia come at a time when Trump is defending his administration's relations with Moscow, following leaks about repeated contacts between members of his campaign team a year ago and Russian intelligence officials. Democrats also wished for Ross to explain his possible connection with Russian shareholder Viktor Vekselberg, who's described as a friend to Russian President Vladimir Putin. Ross pledged in a letter to Democrat Senator Bill Nelson not to censor or intimidate scientists who work at NOAA, the agency housed within the Commerce Department that controls the National Weather Service and conducts research.

Mr Ross has indicated he will step down from his position as Vice-Chair of the bank to avoid any potential conflicts of interest.

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