December 1, 2016 :
President-elect Donald Trump has announced more key appointments to his Cabinet, tapping two businessmen to help spur American industry at home and abroad and to expand the U.S. economy, the largest in the world.
Trump named Wilbur Ross as his choice for secretary of commerce, Steven Mnuchin for secretary of the treasury and Elaine Chao for secretary of transportation. All three will require Senate confirmation. (Here’s a look at Trump’s other Cabinet picks and how quickly presidents-elect have made key appointments.)
Trump, whose name is on hotels, skyscrapers and golf courses around the world, follows other businessmen who made it to the nation’s top political job. They include George W. Bush, who, like his father George H.W. Bush, was in the oil business, and Jimmy Carter, a peanut farmer.
At Commerce: Wilbur Ross, an investor
If confirmed as secretary of commerce, Ross will work to support job creation and promote economic growth and development. He will work with American businesses to foster trade and investment around the world.
Ross is internationally known for turning around failing businesses. He worked as an international banker and investor specializing in bankruptcy and distressed businesses. He also served on the U.S.-Russia Investment Fund under President Bill Clinton.
“Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed,” Trump said. “Most importantly, he is one of the greatest negotiators I have ever met.”
At Treasury: Steven Mnuchin, a banker
The secretary of the treasury is responsible for overseeing federal finances, taxes and debt and advising the president on international economic and trade policy.
Mnuchin has said that “making sure that U.S. corporations are competitive around the world” is one of his top priorities.
Mnuchin is a businessman who has worked as a banker, movie producer and financial manager.
At Transportation: Elaine Chao, former labor secretary
If confirmed as secretary of transportation, Chao will oversee America’s infrastructure, including airports, and will be a crucial part of any national building and development plans.
Trump has named infrastructure redevelopment as one of the top priorities of his first 100 days in office.
Chao was the first American woman of Asian descent to be appointed to a president’s Cabinet when she served as secretary of labor under President George W. Bush. She was born in Taiwan and arrived in the U.S. at the age of 8.
She also served as director of the Peace Corps and as deputy transportation secretary under President George H.W. Bush. “She has an amazing life story,” Trump said when he announced his plans to formally nominate Chao to the post.