Trump picks billionaire Wilbur Ross for Commerce secretary

“I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will leave my great business in total in order to fully focus on running the country to MAKE AMERICA GREAT AGAIN”, he announced in a series of tweets.

30 de noviembre de 2016, 13:01Washington, Nov 30 (Prensa Latina) Steven Mnuchin and Wilbur Ross confirmed today to financial network CNBC they had been nominated by U.S. President elect Donald Trump to asume the secretaries of the Treasury and Commerce, respectively and are pending of confirmation by the Senate.

Donald Trump’s choice for Commerce secretary has a history of revitalizing failing industries like steel and coal.

President-elect Donald Trump is turning to a reliable stable of Republican and business world power brokers to fill out his administration, signaling he’s looking to push his agenda using the political apparatus he famously pledged to dismantle. The other is that the plan will not add to the deficit, because of increased economic growth.

He is widely credited with pioneering an early version of the tax policies that form part of Trump’s economic agenda, which proved successful in the 1920s.

Ross: “Many of the smaller banks have had to get to the point where they now have more compliance people than they have lending offices”.

A China syndrome has cropped up among the Trump administration’s potential conflicts of interest.

Mnuchin told CNBC that the USA economy can sustain a growth level of between 3 and 4 percent. “If tax cuts and infrastructure spending get them that, I think they’ll be happy”.

The stock prices rose as investors speculated that Trump might allow Fannie Mae and Freddie Mac to keep their profits instead of turning majority over to the government. Repeated efforts since then to reform the US housing finance system have foundered in Congress.

On Wednesday, Democrats seized on Ross’s and Mnuchin’s Wall Street ties to accuse Trump of undermining his populist pitch.

As treasury secretary, Mnuchin would be the administration’s chief economic spokesman, serving as a liaison not only to Wall Street but also to global investors, a critical role given the trillions of dollars in treasury bonds owned by foreigners. Both men criticized regional trade pacts, saying they favor bilateral agreements with trade partners.

“There’s trade, there’s sensible trade and there’s dumb trade”.

Trump has vowed to withdraw the Pacific trade deal, an ambitious trade agreement among the US and other 11 countries in Asia Pacific, within his first 100 days in office.

“It starts with an attitude of this administration”, Mnuchin said Wednesday on CNBC.

Ross told FBN the United States will impose tariffs if necessary.

Mnuchin reiterated Trump’s commitment to cutting taxes for the middle class, a key difference between the president-elect’s campaign plan and the tax blueprint put forth by GOP leaders on Capitol Hill. “In essence what they did is they bought a foreclosure machine”, he says. Tariffs are the last thing. “Overall, should be positive for markets by emphasizing the business positive policies will be pursued in a minimally disruptive way”.

But his new chief of staff, Reince Priebus, insisted there were “smart ethics lawyers” working on a “plan”. Mnuchin has been involved in lending before, and it didn’t go well for many homeowners.

The ad, which was deemed by the Anti-Defamation League to echo anti-Semitic tropes, specifically featured footage of Goldman Sachs CEO Lloyd Blankfield. Mnuchin’s father Robert is much better known on Wall Street, having been a pioneer of off-exchange institutional equity trading at Goldman Sachs.