Sci-tech

PE Mogul Ross Eyes NAFTA Rework As Early Priority In Trump Administration

PE Mogul Ross Eyes NAFTA Rework As Early Priority In Trump Administration

Wilbur Ross, chairman and chief strategy officer at WL Ross testifies at his confirmation hearing for Secretary of Commerce.

He also signaled some agreement with Trump on tariffs, as the president-elect has threatened to use them on companies - much to the dismay of congressional Republicans - who move jobs out of the country and then try to ship products back into the US. Ross isn't as bombastic as Trump (who is?), who has said that China is "raping our country" and "eating our lunch".

"It's very hard to parse for me, Senator Nelson, to parse which part of data is what, but in general there will be a very big report forthcoming from NOAA", Ross said. Easing such restrictions could give United States companies greater access to the booming Chinese market and perhaps create more jobs at home.

Spectrum: Another major issue at the nexus of the commerce department and the Federal Communications Commission is the control of broadband electromagnetic spectrum - which telecoms firms have lobbied the government to provide to them in order to meet increasing demand for higher-speed, higher-quality networks.

He said he would retain his holdings in nine entities related to his mortgage finance and trans-oceanic shipping assets, but will resign positions he has in those companies and partnerships.

Ross's comments come after China's President Xi Jinping sought to cast himself as a fierce defender of free trade. During the campaign, Trump said his plans would boost growth to 3.5% a year on average. He accused China of unfairly "dumping" large quantities of steel and aluminum on world markets at prices below the cost of production.

Trump team defends health pick Tom Price over ethics charge
Zimmer Biomet made a subsequent donation three months after Price introduced the HIP Act to the House in early 2016. Chuck Schumer of NY , the Senate minority leader, called for an investigation into Price's activities.


Trump had made the issue of offshoring jobs a centerpiece of his presidential campaign and criticized trade agreements like the North American Free Trade Agreement (NAFTA) for taking jobs away from USA citizens.

The billionaire filed paperwork in recent days indicating he has agreed to sell some, but not all, of his complex empire. Most recently, he warned BMW that if it plans to make cars in Mexico and sell them in the us, it will be hit with a 35 percent tax.

Ross holds about 400 "employment assets, income, and retirement accounts", including stock worth between $10 and $50 million in fund manager Invesco.

Ross's background is largely a financial advisor, specializing in bankruptcy.

"You were able to do it".


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