WASHINGTON (Reuters) - Although U.S. President Donald Trump has talked about walking away from NAFTA if necessary, he and other members of the administration hope that will not have to occur, U.S. Commerce Secretary Wilbur Ross said on Wednesday.
"From time to time he has expressed a total willingness to depart from NAFTA should that become necessary. We don't hope it will, we don't desire that it will, we don't believe that it will, but it is at least a conceptual possibility as we go forward," Ross told a Washington panel on the North American Free Trade Agreement.
(Reporting by David Ljunggren; Editing by Tom Brown)
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
 Marquis Who's Who LLC Publishing: Books/MagazinesConsumer Services For over 100 years, Who's Who in America has provided accurate, concise biographies of notable Americans. That was the mission of founder, Albert Nelson Marquis, whose First Edition in 1899 featured 8,602 distinguished people. Today, the Marquis Who's Who family of directories has grown to include the biographies of millions of leaders and achievers from around the world, and from every significant field of endeavor. Corporate executives, journalists, personnel recruiters, librarians, researchers, students, and many others consult its information databases for in-depth information they can use with confidence. | Chairman |
