This is our look at President-elect Donald Trump's transition and the outgoing Obama administration. Here's what's happening:
- Nancy Pelosi beats back challenger to retain House leadership post
- Trump tweets he will announce plans to leave his businesses to focus on presidency
- Trump picks Wall Street exec Steven Mnuchin to head Treasury
- Trade critic Wilbur Ross to lead Commerce department
- Romney and Trump discuss State over frog legs
President-elect Donald Trump has chosen billionaire financier Wilbur Ross, known as the king of bankruptcy for his investments in distressed properties, to serve as Commerce secretary, according to a person familiar with the decision.
If confirmed, Ross would become the Trump administration’s chief liaison with the business community and a leading advocate for U.S. trade abroad.
Ross, 80, who was a senior policy advisor to Trump’s campaign, is worth $2.9 billion, according to Forbes magazine.
Like Trump, Ross has been critical of U.S. trade deals. He sharply criticized trade negotiators and called for the U.S. to withdraw from the yet-to-be-ratified Trans-Pacific Partnership and to renegotiate the North American Free Trade Agreement. Trump has pledged to do both upon taking office.