Wilbur Ross has resigned from the board of the world’s largest steelmaker, ArcelorMittal, to take up his new role as US Secretary of Commerce.
Mr Ross, claims a report by Reuters, helped to shape President Donald Trump’s opposition to multi-lateral trade deals and is set to become ‘an influential voice in Trump’s economic team’.
According to Reuters, Ross will renegotiate trade relationships with China and Mexico and is expected to ‘play an outsize role in pursuing Trump’s campaign pledge to slash US trade deficits and bring manufacturing jobs back to America’.
Ross is a steelmaker and has known Lakshmi Mittal for around a decade, ever since Ross’ company, International Steel Group, was acquired by ArcelorMittal.
Mr Mittal, ArcelorMittal’s chairman and CEO, said that Ross has been a ‘very active and engaged member of the board’ and a trusted and value source of advice. “He’s a very astute and successful businessman,” said Mittal.
“It’s very good news to have such an accomplished businessman and investor in government,” Mittal added, stating that Ross was well positioned to shape policy that promotes economic growth.