WASHINGTON (Reuters) - U.S. President-elect Donald Trump will likely discuss reports that China plans to penalize an unnamed U.S. auto maker when he meets with his pick for U.S. Commerce Secretary Wilbur Ross later on Wednesday, Trump's transition team told reporters.
"The President-elect has made very clear that he’s going to get out there and fight for American companies and American jobs," Trump aide Jason Miller said in a conference call following reports earlier on Wednesday that Beijing planned to penalize an unnamed U.S. automaker for "monopolistic" behavior.
(Reporting by Emily Stephenson; Writing by Susan Heavey)
Wilbur L. Ross, Jr. (November 28, 1937) is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses. As of August 2014, Forbes magazine lists Ross as one of the world's billionaires with a net worth of $2.9 billion. he has been bottom-fishing in mortgages and mortgage companies. He apparently commands far greater sums than his net worth would suggest.
Early life
Ross was born in Weehawken, New Jersey He drove two hours a day from New Jersey to attend the elite Catholic college preparatory Xavier High School in Manhattan. He ran track and was captain of the rifle team. He earned a B.A. from Yale College, which was also his father's alma mater. At Yale, Ross edited one of the literary magazines and worked at the radio station. Initially, he wanted to be a writer, but after his experience in a fiction class requiring 500 words daily, he concluded that he had "run out of material." His faculty adviser at Yale helped him get his first summer job on Wall Street. He earned his M.B.A. at Harvard Business School. Ross owns 25 Magrittes including some of the artist's most valuable paintings such as The Pilgrim. WL Ross & Co. was acquired by Amvescap (now Invesco) in 2006.
International Steel Group
Wilbur Ross at first had support of the local Steelworkers Union, negotiating a deal with them to "save" Pennsylvania's steel industry.
International Textile Group (ITG)
Ross combined Burlington Industries and Cone Mills in 2004 to form [[Internation
| Linked companies | |
|---|---|
| Absolute Recovery Hedge Fund LP | Chief Executive Officer |
| Marquis Who's Who LLC | Chairman |
