What You Need to Know About Wilbur Ross’ Many Conflicts
There’s a chance you missed it amid the other news, but Forbes had a blockbuster story about Commerce Secretary Wilbur Ross. It turns out, Ross bet against the stock of a company after journalists had contacted him with questions about his connections to the firm. Using inside information in stock trades is illegal.
That’s only one of the revelations from Forbes’ story. Trump, Inc. spoke to reporter Dan Alexander about what else he found: for most of last year, Ross had ties to foreign businesses that included an auto parts firm owned jointly with a Chinese government-owned entity and a stake in a shipping company also owned in part by Russian oligarchs. Ross transferred many of his assets to a family trust last fall.
There is no evidence Ross made any policy decisions based on his financial interests. “But the problem is that you have to wonder,” said Alexander. “And usually we don't allow people to hold interests in which the public is left wondering.”