Billionaire Investor Confirmed as Commerce Secretary
Senate confirms Trump nominee 72-27
By Newser Editors and Wire Services
Posted Feb 27, 2017 7:25 PM CST
FILE - In this Jan. 18, 2017, file photo, Commerce Secretary nominee Wilbur Ross testifies on Capitol Hill in Washington, at his confirmation hearing before the Senate Commerce Committee. Ross was confirmed...   (Manuel Balce Ceneta)

(Newser) – The Senate on Monday confirmed billionaire investor Wilbur Ross as commerce secretary as President Donald Trump adds to his economic team, the AP reports. The vote was 72-27. Breaking with Republican orthodoxy, Ross said the Trump administration will work quickly to re-do the North American Free Trade Agreement. That's the massive trade pact with Canada and Mexico that has boosted trade but still stings laid-off workers across the Midwest. Senators from both political parties were deferential to Ross at his nearly four-hour confirmation hearing, which was much more subdued than the confirmation hearings of other Trump nominees. Former commerce secretaries have praised him, including one who served under former President Barack Obama.

But Sen. Elizabeth Warren of Massachusetts criticized Ross' business ties to Russia and the way he ran a mortgage lender during the housing crisis. "Mr. Ross has extensive ties to Russia. He plans to keep making money from his major oil shipping companies while working as Commerce Secretary. He's made billions off the backs of struggling home owners," Warren said Monday. "He is practically a cartoon stereotype of a Wall Street fat cat." As part of his ethics agreement, Ross is giving up his position at Diamond S. Shipping, but he will retain a stake in the company, which ships petroleum and other products. As part of the agreement, Ross has promised not to take any action as commerce secretary that would benefit any company in which he has a financial interest. So far, the Senate has confirmed 15 out of 22 Trump Cabinet or Cabinet-level picks requiring confirmation.

My Take on This Story
Show results without voting  |  
2%
13%
21%
31%
12%
21%