How did Wilbur Ross, Trump’s Commerce Secretary make his fortune?

Wilbur Ross has been asked by Trump to revamp NAFTA in order to benefit the US.

Despite all the opposition from Canada, Ross is proceeding to impose both softwood lumber and the newly rumoured steel import tariffs.

Who knows what industry he will target next?

Ross made his fortune in 2002 by buying up bankrupt steel companies and then encouraging the US President at the time,  George Bush, to impose a 30% tariff on imported steel.

This led to a 25% increase in domestic steel prices.

Ross sold his steel company only two years later for $4.5 billion.

This is the man that Canada and Mexico is negotiating with.

Guess who is going to win?

Posted in Blog Post.

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